This includes the construction of roads. power. and water installations. auxiliary services and industries. and so forth. The figures vary. of course. according to country of settlement and type of settler. However. no U.S. dollars are required for the financing of the immigrant land settlement projects existing or envisaged to be started in Latin America. The cost of roads. housing. water supply. electrification. and other necessities for a decent living can. and should. be financed in local currencies. Extensive studies undertaken by ICEM confirm my own impression that but a fraction of local currencies accrued under our various economic assistance programs will serve the purpose. The loans will be repayable under conditions specified by the Development Loan Fund. and our experience with other similar lending programs benefiting immigrants. indicates that the terms of repayment are meticulously carried out by the new settlers. In voting in favor of section 205(a) (3) we will give a new and decisive impetus to a program of primary importance. a program which will not only contribute to relieve the constant pressure of our own immigration quotas. but will provide the needed European manpower for the underdeveloped areas and go a long way toward improving the economic. social. and political conditions of several countries of Latin America.
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immigrant immigration immigrants