In order to use the $100,000,000 Export-Import loan effectively, Israel will need at least $300,000,000 more in dollars it was estimated today by Harold Glasser, director of the Institute of Overseas Studies of the Council of Jewish Federations and Welfare Funds.
In an analysis of the effects of the U.S. loan, Mr. Glasser emphasized that the need maximum private contributions for the care and absorption of immigrants will not be lessened by the $35,000,000 loan to Israel already granted by the Export-Import Bank for the purchase of agricultural equipment and machinery.Additional capital in the ratio of three to one may be required to open up new farms, he stated.
Mr. Glasser hailed the loan as an “opportunity for Israel to build up, in a short period of time, a sound economic basis” for the country even though the population my increase by 30 or 40 percent during the next two years. In stressing the need for continued maximum contributions of private philanthropy, he listed vital |needs not covered by the loan, which must be met by the world Jewry, and In the United States by the community welfare funds through the United Jewish Appeal.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
