in 1956 juscelino kubitschek took office (1956–1961). like vargas, kubitschek had a pro-industries economic policy. he named it "national developmentalism." but unlike vargas's plan (and in spite of the policy's own name), kubitschek's was open to investments by foreign capital. though he strengthened relations with latin america and europe, kubitschek also sought to improve ties with the united states. his economic policy attracted huge direct investments by foreign capital, much of which came from the u.s. he also proposed an ambitious plan for united states development aid in latin america, the pan-american operation. the outgoing administration of president dwight eisenhower found the plan of no interest, but the administration of president john f. kennedy appropriated funds in 1961 for the alliance for progress.