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| Identifier: | 02ANKARA7973 |
|---|---|
| Wikileaks: | View 02ANKARA7973 at Wikileaks.org |
| Origin: | Embassy Ankara |
| Created: | 2002-11-06 15:10:00 |
| Classification: | UNCLASSIFIED//FOR OFFICIAL USE ONLY |
| Tags: | EAID EFIN PREL TU |
| Redacted: | This cable was not redacted by Wikileaks. |
This record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS ANKARA 007973 SIPDIS SENSITIVE STATE FOR E, P AND EUR TREASURY FOR OASIA ASSISTANT SECRETARY QUARLES STATE PASS USAID/EUROPE AND EURASIA/OM - CARL MABBS-ZENO TREASURY PASS FEDERAL RESERVE BANK OF NY - ASSISTANT VP TIMOTHY FOGARTY E.O. 12958: N/A TAGS: EAID, EFIN, PREL, TU SUBJECT: FINALIZING THE $200 MILLION GRANT TO TURKEY Sensitive but Unclassified. Not for internet distribution. 1. (SBU) Embassy is concerned with the delays in implementing the Grant Agreement between Turkey and the United States, signed on September 13, involving nearly $200 million in grant assistance to Turkey. We understand there are technical legal problems between the Federal Reserve Bank of New York and USAID holding up disbursement of this grant. The Turkish Government in its debt program has planned to use these funds to make payments to the IMF November 7. 2. (SBU) We are concerned that the intent of this grant, to recognize Turkey's contribution to the Global War on Terrorism by taking the lead on peace-keeping in Afghanistan, is being lost in our internal bureaucratic hurdles. The Turkish Treasury has informed us that the eight-week delay is not explicable. Ultimately the danger is that this delay reduces the benefit to U.S. interests from the grant. Embassy urges State and Treasury to raise with both USAID and the Federal Reserve Bank the urgency of finalizing arrangements for disbursing this loan this week. PEARSON
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