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Israel Repays $7,700,000 to Export-import Bank in Washington

The Israel Treasury will turn over $7,700,000 to the United States Export-Import Bank today in partial repayment of loans totalling $135,000,000. The payment, the largest thus far in the lifetime of the loan, covers interest and a repayment of principal. (The check was presented this afternoon in Washington by Ambassador Eban to Export-Import bank officials.)

The loan of $135,000,000 was originally contracted in 1949 and 1950. The dollars are being spent for agriculture, industrial, irrigation, and public utilities development projects, including port, telecommunication, power, transport and housing facilities. The payment to date amounts to $46,700,000.