Dr. Joseph J. Schwartz, vice-president of the Israel Bond Organization, left for Israel today to report to Finance Minister Levi Eshkol on the progress of the current campaign and to confer with him and other Government leaders on plans for 1964, when a new bond issue will be required to carry on the financing of the country’s major economic development activities.
The sale of the present Israel bonds, the Second Development Issue, which started early in 1959, will be terminated early next year, During his visit to Israel, Dr. Schwartz will discuss with Mr. Eshkol and other members of the government, the economic requirements of the coming year and the role of the Israel Bond Organization in providing the needed development resources in the future.
Prior to his departure, Dr. Schwartz said that, based upon the results of the first five months, the 1963 Israel bond drive is running 15 percent ahead of last year. “If the present rate of increase is maintained during the balance of the year, it will result in the best campaign in Israel bond history,” he stated.
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