“The first ten years of the Israel bond campaign have demonstrated that Israel bonds are the lever which moves Israel’s economic development forward,” Dr. Joseph J. Schwartz, vice president of the Israel Bond Organization, stated today on his return from a ten-day Israel Bond Leaders Conference which has just concluded in Israel.
“The $500,000,000 provided during the first decade of the Israel bond drive,” Dr. Schwartz said, “have played a decisive role in the development of every phase of the country’s economy. Israel bonds must play an equally decisive part in the economic development which is planned for the future.” The 350 Jewish leaders from the United States, Canada and Latin America who attended the conference, adopted a goal of an additional $500,000,000 in Israel bond sales during the next seven years.
In reporting on the results of the Conference, Dr. Schwartz stressed the need for an accelerated flow of Israel bond dollars to Israel. “Finance Minister Eshkol told the conference,” Dr. Schwartz said, “that Israel will require some $2,500,000,000 in investment resources during the next five years to carry out her program of essential economic development, and to provide for the absorption of hundreds of thousands of new immigrants. This objective cannot be reached without great sums from the Israel bond drive, which has become an indispensable element in Israel’s total economic picture.”
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