447. Editorial Note
In February 1956, the Waterston mission to Colombia submitted its report, “A Program for Colombian Public Investment and External Borrowing,” to the International Bank for Reconstruction and Development (IBRD). A copy of this report, No. Z–6, in two parts with three annexes, is in the archives of the IBRD. No copy of the Waterston report has been found in Department of State files. In a memorandum dated March 23, Albert H. Gerberich informed Assistant Secretary Holland of the conclusions of the IBRD mission regarding the Paz de Rio steel plant. According to Gerberich’s memorandum, the mission recommended the following:
“The Government [of Colombia] should refrain from becoming involved in any further commitments with respect to Paz de Rio until (a) experienced management assistance has been employed and has demonstrated its capacity to master the problems of operating the present plant; (b) consulting engineers have prepared necessary studies and designs; (c) final determination has been made regarding the character of the expansion on the basis of the operating and marketing experience obtained in the interval.” (Department of State, Holland Files: Lot 57 D 295, Colombia)