A mortgage fund to provide housing fore Israeli veterans was formally launched here Saturday night by the Israel Histadrut Foundation at a farewell tribute to Yitzhak Rabin, retiring Israeli Ambassador to the United States. The 1300 guests subscribed to more than 150 units of $5000 each, a total of more than $750,000 toward an issue of $5 million for the mortgage funds through Histadrut Annuity Trusts, according to Dr. Sol Stein, president of the Foundation.
Dr. Stein and Rabbi Leon Kronish of Miami Beach national chairman of the board of the Israel Histadrut Foundation, presented Rabin with the first Israel Histadrut Foundation Medal of Honor. Dr. Stein said that the Histadrut, Israel’s Labor Federation, has started construction on $50 million worth of housing for Israeli veterans and young married couples and would provide $25 million in mortgage funds for such construction, including the $5 million to be raised in the United States.
Rabin endorsed the housing and mortgage program as “the first major effort to equalize differences between Israeli veterans and the Jewish State’s new immigrants.” He said each new immigrant is automatically guaranteed adequate housing, job training and many other benefits from both the Israel government and charitable organizations while the sabras (native-born) do not receive even one half of these benefits.
He said that “while it would be totally unfair for Israel to use the vast funds channeled to Israel for absorption of new immigrants for the veterans, I wish to be among those who will champion immediate methods to provide similar benefits for Israeli veterans.”
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