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Background: SYNOPSIS: Shah's newe proposal to help developing countries:
In an interview Mr. Hoveida Iranian prime minister, Mr. McNamara head of the world bank, Mr. Witteveen president of the Monetary Fund announced to day that with the proposal of Shah of Iran a fund or organization will be stablished on 1974 with the cooperation of the two organizations to aid the developing countries. This organization or fund would need for the beginning an amount of 2 to 3 billion dollars to start operation, and Iran will provide the first billion. The money will be given to developing countries as a long term loan and the World Bank will assist them in the Developing Plans.

Mr. McNamara in this interview said that this plan for the developing countries is as important as the marshal Plan was to Europe. The proposal of Shah was welcomed by the town organisations and they will immediately start putting down plans and details on this matter.