Israel Completing Negotiations for $22,000,000 Loan in Washington

An Israeli economic team, headed by David Horowitz, Governor of the Bank of Israel, is completing negotiations with the World Bank here for a $22,000,000 loan to construct a modern highway network in Israel. The loan will be at the rate of 5-1/2 percent and will extend over 10 years. Approval from the bank’s board of governors is till pending but is expected in the next few weeks.

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