A new $50, 000, 000 program of loans and investments in Israel by Ampal was announced here today by Abraham Dickenstein, president of the American investment firm, at Ampal’s 20th annual meeting, attended by nearly 2, 000 stockholders.
Loans for immigrant housing, industrial and agricultural investments, participation with Solel Boneh in economic projects in Africa and Asia headed Ampal’s vast new program announced today.
In the last 20 years, Ampal has made loans and investments in Israel amounting to more than $400, 000, 000. Its registered starting capital of $99, 000 had been built up into assets of more than $70, 000, 000, Mr. Dickenstein said in his review of Ampal’s record, and more than $5, 000, 000 had been paid out in dividends.
Ampal, said Mr. Dickenstein, “had created patterns for international financing; had built up a solid record of investor confidence in the permanency of Israeli enterprises; had proven able to adjust to the economic needs of Israel while being flexible in its response to the needs and desires of investors in America; and above all Ampal had demonstrated its faith in the belief that ‘doing business with Israel is good business.'”
Israel’s Ambassador to the United States, Avraham Harman, lauded Ampal’s high sense of dedication and its far-seeing investment and financing policies. Among the guests attending the meeting were Dr. Giora Josephthal, Minister of Development and Housing of Israel, and Aryeh Pincus, treasurer of the Jewish Agency.
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