Israel and Egypt will get “sizable loans” from the United States in the fiscal year of 1963, William S. Gaud, assistant administrator of the bureau for Near East and South Asia in the U.S. Agency for International Development, told the House Foreign Affairs Committee, it was revealed today.
Mr. Gaud said the Clay Commission urged that there be no loans to Israel after fiscal 1963. “This year,” he reported, “we have upped the interest rate on Israel’s loans from three-quarters of one percent to two percent, and we have told the Israelis it will go to three and one-half percent next year.”
The AID official said “it is getting to the point where we are getting them down to commercial terms.” He stressed that he did not agree with Gen. Clay’s view on loans because “it is a question only of whether you do it all at once, or over a period of time.”
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
