Lending Stage

Lending Resources and Build Points
Each active major power announces how many resources and/or build points they will give to another major power this turn. During Production, any promised resources and build points must be delivered, if possible. If resources and/or build points that a major power promises another can not be delivered, they may not be used this turn.
 * If Option 30 is in use, oil may also be given under the same rules.
 * Trade agreements are not counted
 * Both major powers must be on the same side
 * Vichy must be hostile to give to other major powers.
 * If any city in a major power's home country (UK for the CW) is under enemy control, that major power may not give more than 1 resource and 1 build point total.
 * Some US entry options affect who can give or receive resources and build points.
 * A major power may not give resources to another major power from which it receives resources during the same turn. The same restriction applies to build points.

Trade Agreements
Some trade agreements are automatically in place at the start of the game, or triggered by certain events. They continue until a participating major power is completely conquered, or as specified below.

Any transport requirements must be med during Production Step. Resources and build points are transported by rail; if this is impossible, the recipient (unless stated otherwise) must provide the convoys to receive their incoming resource/build point.

Germany-USSR
Each turn, Germany must give 2 build points to the USSR in return for 7 resources. The total resources sent by the USSR are reduced a follows (all are cumulative): Each time that the Soviet Union declares war on or enters (whichever occurs first) any of the following countries, Germany may choose to either reduce their build points sent by 1, or receive an additional resource received from the USSR (if Option 30 is in use, that resource is oil). The Germany-USSR trade agreement is broken when the Nazi-Soviet Pact is broken. Any build point or resource reductions may still be used by their respective major power.
 * If Option 30 is in use, 2 of the resources must be oil.
 * -1 if Finland allows the Soviet claim to Finnish Borderlands
 * -1 if Rumania allows the Soviet claim to Bessarabia
 * -1 if Germany aligns Bulgaria, Finland, or Hungary (unless alignment was due to an Allied DoW)
 * -1 if an Axis major power aligns or declares war on Rumania or Yugoslavia before France is conquered or Vichied (unless alignment was due to an Allied DoW)
 * -1 if Germany aligns Rumania after allowing Bulgarian & Hungarian claims
 * -1 if an Axis major power declares war on Bulgaria, Estonia, Finland, Hungary, Latvia, Lithuania, or Turkey
 * If Option 30 is in use, general resources are reduced before reducing oil.
 * Denmark, Greece, Hungary, Norway, Sweden, Turkey, or Yugoslavia

Italy-USA
Each turn, Italy must give 1 build point to the USA in exchange for 3 resources. Enough USA convoy points must be used in the sea areas from the USA to a sea area adjacent to the Western Mediterranean sea area to transport both the resources and build points. Enough Italian convoy points must be placed in the Western Mediterranean and Italian coast sea areas in the same manner.
 * If Option 30 is in use, 1 of the resources must be oil.

During Production, if Italy has met its convoy point obligation and the USA has not: If Italy does not meet its obligation, both sides may use their promised resource or build points themselves this turn.
 * the USA still loses the 3 resources and does not get the promised build point, which Italy may still use itself
 * Italy randomly removes 1 US entry marker from the Ge/It entry pool to the common entry pool. See 13.3.3 if there are no entry markers to remove.

This agreement ends when the USA or Italy become active major powers, or when US entry option 34 has been chosen.

Japan-USA
Each turn, Japan gives 1 build point to the USA in exchange for 4 resources. The number of resources given by the USA are reduced by US entry options 13, 23, and 31. Any reduced resources may be used by the USA.
 * If Option 30 is in use, 2 of the resources must be oil.

Enough USA convoy points must be used in the sea areas from the USA to a sea area adjacent to the Japanese Coast sea area to transport the resources and build point. If during Production either side has not met that obligation, that side loses the resources and build point for that turn, and the other side may use the resources and build point themselves.
 * One resource can originate from the Philippines, in which case the Philippines is the origin for that resource.

If Japan does not meet its obligation, the USA may add 2 entry markers to the Japanese entry pool from the common entry pool

If the USA does not meet its obligation, Japan randomly removes 2 entry markers from the Japanese entry pool to the common entry pool. See 13.3.3 if there are no entry markers to remove.

Greece
Neutral Greece supplies 1 resource each turn to the Allied major power that controls all hexes of the Dodecanese islands (E1813)

If Greece is neutral, and Allied major power controls all hexes of the Dodecanese islands (E1813), Greece sends that major power 1 resource each turn.

Hungary
Neutral supplies Germany with 1 resource each turn.
 * Hungary stops supplying its resource to Germany if Germany denies Hungary's claim to Transylvania after the USSR claims Bessarabia.

Iran
Neutral Iran supplies the CW with 1 resource each turn.

Iraq
Neutral Iraq supplies France with 1 resource each turn.
 * If France is conquered or a Vichy government has been installed, Iraq instead supplies 1 resource to whichever country controls Syria. A Vichy controlled Syria will pass the resource on to the major power that installed the Vichy government.

Netherlands
The Netherlands supplies Japan with 2 NEI resource each turn until Neutral Netherlands must supply the CW with all of its remaining NEI resources.
 * Japan is at war with the Netherlands or the CW, or
 * the US embargo oil sales to Japan with US entry option 31.

Portugal
Neutral Portugal supplies 1 resource each turn to the Allied major power that controls Madrid.

Rumania
Neutral Rumania supplies Germany with 2 resources and Italy with 1 resource each turn.

Spain
Each turn, neutral Spain supplies 1 resource to the Axis major power that controls Paris, and the Axis major power that controls Rabat.

Sweden
Neutral Sweden supplies Germany with 3 resources each turn until the Norwegian coast has been mined (US entry action 39)

Turkey
If Italy has not been conquered, neutral Turkey supplies 1 resource each turn to Germany and a second resource to the Axis major power that controls Cairo.

Venezuela
While Allied controlled or neutral, Venezuela gives the CW half of its resources, and the US the remaining resources, each turn.

After completing all parts of the Lending Stage, move on to the Initiative Stage.