The financial operations of the newly-created Canada-Israel Corporation were initiated here this week-end when checks for $500,000 were handed over by J. H. Fine, treasurer of the Canadian Jewish Congress and Joseph N. Frank, treasurer of the Zionist Organization of Canada, to Saul Hayes, national executive director of the Canadian Jewish Congress.
This corporation has been set up by the National Conference for Israel and Jewish Rehabilitation to develop trade relations between Israel and Canada. A contract has already been signed with the Israeli Supply Mission covering purchases in this country to the extent of several million dollars annually.
A consortium of Canadian chartered banks has agreed to extend credit of $2,800,000 every six months to provide funds for the purchases in Canada to fill the orders of the Government of Israel Supply Mission.
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