Menu JTA Search

Barclay’s Bank Offers to Lend $500,000 to Transjordan

The government of Transjordan today received an offer from Barclay’s Bank, Led., of Palestine for a loan of half a million dollars for the development of Transjordan.

Transjordan was once the granary of the Middle East, but in recent years it has not produced sufficient wheat and barley to feed its own small population. Artificial irrigation is lacking while the cultivation methods are the poorest.

Last year the government of Transjordan granted loans to its farming population out of funds received from the British and Palestine governments. The officers of the Barclay Bank believe that with the help of private loans the government will succeed in developing certain industries, especially the tobacco industry, which may find markets in foreign lands for their products.

NEXT STORY