ATOMIC ENERGY: Loans for Reactors

In the race with Soviet Russia and Britain to win the world market for atomic power plants, the U.S. sprinted a furlong ahead last week. The Export-Import Bank said it will extend loans to friendly governments and private foreign utilities that want to buy nuclear reactors, fuel and know-how from U.S. companies. Borrowers must pledge that they will join forces with the U.S. Government to develop the peaceful atom, and they may buy or lease their atomic fuel from the Atomic Energy Commission. Thus the future atomic industries of the borrowers would be married to the West rather than the East.

The AEC also has earmarked $8,750,000 for foreign atomic development this year and next. But AEC grants are held to $350,000, and limited to research reactors (estimated cost: $1,000,000 to $3,000,000). Ex-Im will lend larger amounts for either research reactors or power reactors. Several non-Communist nations and U.S. manufacturers already are discussing terms with the bank, which expects to make its first loan by Christmas.