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State Dept. Announces $5,000,000 Development Loan for Israel Industry

The State Department announced today authorization by the Development Loan Fund of a loan of $5,000,000 to the Israel Industrial Institution Ltd., to help finance the expansion of small private enterprises in Israel. Dempster Mcintosh, managing director of the Fund, described the Israel institution as potentially one of the most important organizations in Israel designed to provide credit for private industrial development which will help to diversify the Israel economy.