Menu JTA Search

Ten Million to Be Raised by Palestine

The Palestine government has decided to raise a ten million dollar loan to be spent for development of the country, the Jewish Telegraphic Agency learned today from a reliable source.

The loan will be placed partly in London and partly in Palestine. No specific details with regard to how the loan is to be spent will be made known for some time.

The loan, it is understood, will be guaranteed in part by the surplus which the Palestine government now has. This surplus is a result of the import and export activity which is first and foremost a product of the needs of the Jewish population. The surplus is also due to the influx of Jewish capital and Jewish labor, which is influencing the increasing economic capacity of the country.