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Israel Government Pays $6,097,943 on Export-import Bank Loan

The Israel Government today paid $6,097,943 to the Export-Import Bank here on account of principal and interest of the Bank’s loan of $135,000,000 to Israel.

The loan was made to help accelerate Israel’s economic development and was earmarked for specific programs in the spheres of agriculture, transportation, housing, telecommunications, ports and industry. It was given in amounts of $100,000,000 in January, 1949, and $35,000,000 in December, 1950.

The period of the loan is 15 years and interest was fixed at three-and-a-half percent per annum. Today’s payment brings the total principal and interest payments thus far to $21,057,236. Of the amount paid today $3,975,697 was on account of principal and $2,122,245 was interest.