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Israel is Seeking Development Loan from World Bank; Official, Horowitz Confer

Israeli efforts to receive a development loan from the World Bank are being discussed between Rene Springuel of the European department of the bank and the governor of the Bank of Israel, David Horowitz. Mr. Springuel is on a visit to Israel at the invitation of Mr. Horowitz. – Israel has been on a list of “low priorities” for loans for several years. A survey team on behalf of the bank visited Jerusalem last year as a result of Israeli efforts to regain a higher priority rating.

Several years ago, the bank, somewhat short of funds, decided to downgrade for loans certain developing countries, Israel among them, which it regarded as more developed than others. The decision was also connected with Israel’s economic slow-down policy of the period. Since Robert McNamara became president, the bank has reviewed its policies and Israel is now being considered anew for development loans.