Emphasis in the development of Israel’s economy will shift during the next 10 years, Sir Isaac Wolfson, British financier and a member of the board of directors of the Industrial Development Bank of Israel, told a group of New York businessmen and bankers at a luncheon held in his honor here this weekend. He is in this country to discuss with financiers in this city, Chicago and Los Angeles the expansion plans of the bank in Israel.
“Israel,” said Sir Isaac;” is growing up. Private initiative and private capital, whether foreign or local, will play an ever-growing role in financing the expected industrial expansion in the next 10 years. It is to this end that the Industrial Bank of Israel was established five years ago. The bank is an integral part of Israel’s modern industrial structure.”
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