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Export Import Bank Will Take No Action on $100,000,000 Loan for Israel

A spokesman for the Export-Import Bank today announced that it could take no action on Israel’s formal request for a $100,000,000 loan until conditions there have “settled down” He added that the Bank must have “reasonable assurances” it will be repaid before it can be authorized.

An Israel mission spokesman told the Jewish Telegraphic Agency that “we already offered every Guarantee that the loan will be repaid.” Israel is already stable enough politically and economically for us to hold elections in the next several weeks. Every Israeli move has been toward stability, he added.