The Government of Israel today made a further installment payment of $3,154,809,76 to the Export-Import Bank on account of principal and interest on the Bank’s loan of 135 million dollars made to Israel in 1949 and 1950.
The Export-Import Bank loan was made to help accelerate Israel’s economic development and was earmarked for specific programs in the fields of agriculture, transportation, housing, telecommunications, ports and industry.
The first loan of 100 million dollars was made in June 1949 and a second loan of 35 million dollars in December 1950. The loans were made for a period of fifteen years. With today’s payment, the total sum repaid on account of principal and interest comes to $29,495,936,96.
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.
