WASHINGTON (Jul. 18)
Negotiations are scheduled to start here this week between World Bank officials and Israeli representatives on a loan for the development of ports in Israel, it was disclosed today. While no official statement has been made on the size of the projected loan, it was reported that talks will revolve around the sum of about $30, 000, 000.
Representatives of the Ministries of Finance and of Communications, as well as Israeli engineering experts, are expected to arrive here within the next few days to conduct the negotiations. The World Bank indicated its willingness to extend the loan after a favorable report was made on Israel’s economy by a special study mission of the World Bank. Eugene Black, World Bank president, also visited Israel in connection with the loan application.