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American Keren Hayesod Furnished $33,000,000 to Israel in 1948, President Reports

The Sum of approximately $33,000,000 was furnished Israel by the Keren Hayesod in the United States during the past year, it was reported here today by Charles Ress, president of the organization. The annual meeting the Keren Hayesod will be held tonight, at which officers for the coming year will elected and plans for 1949 will be reviewed.

The report emphasized that the American Keren Hayesod — which is the financial instrumentality of the Jewish Agency and receives its funds from the United Palestine Appeal — is primarily responsible for the financing of immigration and settlement in Israel. The organization has also been concerned with economic aid to Israel her than the transmission of funds. It maintains an economic bureau which gives formation to American firms seeking commercial relations with Israel, and has formed subsidiary organization to send food and gift parcels to Israel.