Page:United States Statutes at Large Volume 62 Part 2.djvu/1027

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. Special Account in Bank of Greece. 61 Stat., Pt. 3, p. 3017. 62Stat., Pt.L ,p. 1 Article IT (Local Currency) 1 The provisions of this Article shall apply only with respect to assistance which may be furnished by the Governaent of the Unitfd Stntes of America on a grant basis. 2. The Government of Greece will establish a special account in tho Balk of Greece in the name of the Ooverllent of Greece (hereinafter called the Special Account) and will make deposits to drachmae to this account as followsl (a) The unencumbered balance at the close of buineess on the day of the signature of this Agreenent in the account in the Bank of Greece In the name OGreek State-Relief Drachmae Fund" established pursuant to the Agreenent botween the Government of the United States of America and the Government of Greece made on July 8, 1947, and any further suam which say, froa time to tine, be required by such Agreement to be depolsted in such account. It is understood that subsection (e) of Section 114 of the Economic Cooperation Act of 1948 constitutes the approval and determination of the Governrment of the United States of Ancrica with respect to the disposition of such balance, referred to ta that Agreerent. (b) The unencumbered balances of the deposits made by the OGrernment of Greece pursuant to the exchange of notes between the two Goverunents corpleted lay et 19'68. (c) Amounts comoeanurate with the indicated dollar cost to the Gortrnoent of the United States of America of coa-odities, services 2312

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