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Israel Considers Easing of State Bank Credits to Industrialists

The Ministerial Committee on Economics discussed a proposal at its meeting yesterday for a recommendation to the State Bank to case its credits for working capital needed by Israeli industry.

The recommendation was placed before the committee by the Ministry of Commerce and Industry. According to the Ministry, the State Bank’s “restrictive policy” on credits is so harsh that Israeli industrialists are deterred from developing production, and are forced to resort to private loans at usurious rates.