Israel-ghana Trade Agreement Signed; Ghana to Get $20,000,000 Credit

An Israel-Ghana trade agreement, under which Israel will extend a credit grant to the African republic of $20,000,000 was signed last night. The signers were Ribeiro Ayeh, general director of the Ghana Trade Ministry and Edmund Unger, his legal adviser, and J. Glickman and Z. Dinstein for the Israel Ministries of Trade and Finance.

The agreement, reached after a week of negotiations between the Ghana and Israel officials, is subject to approval of both governments. While the official communique did not include any details, it was leamed authoritatively that the credit would be repaid in four years and that Israel will buy various raw materials from Ghana, mainly diamonds, rubber and cocoa in the exchange. Ghana will use the credit to buy various materials needed in its development projects.

Captain Enrico Levy, principal of the Nautical School at Acre, will visit Accra, Ghana, at the end of this month to assist in preparatory work for a projected Ghana Nautical school, it was disclosed today. The school will have facilities initially for 80 seamen and 40 cadets.

NEXT STORY