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Israel Gets $30,000,000 Loan in U.s.; Repayable in Two Years

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The Israel Government has received $30,000,000 loan from the Bank of America in San Francisco, a bank which has previously made smaller loans to the Israel Treasury and the Jewish National Fund, it was reported here today.

The loan was negotiated recently by Pinchas Sapir, director of the Israel Treasury, who is currently in Mexico, but will return to the U.S. before the end of this week, The terms of the loan include four percent interest and repayment over a period of two years, The loan will be used for capital investment and to finance the importation of important goods.

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