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Drive for U.S. Investments in Israel Launched at Washington Dinner

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Capital for Israel, Inc., a new corporation formed under Israeli auspices, received at a dinner here last night initial pledges of $336, 000 toward its goal of $20, 000, 000 for investment in Israeli industries. Pinhas Sapir, Israel’s Finance Minister, who is in the United States to attend meetings now taking place here of the International Monetary Fund and the World Bank, reported on the new corporation’s goals.

He heard a statement at the opening session of the World Bank meeting by Chairman George Woods that Israel was an example of a small country, succeeding in agricultural and industrial production despite limited resources.

Mr. Sapir, who met today with Secretary of the Treasury Henry Fowler and other key United States financial managers, told the press that Israel was sending more dollars back to the United States in redemption of matured Israel bonds than it was taking out from the United States.

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