Eban Warns Against Slackening Financial Support for Israel Following Sinai Accord

Israel’s former Foreign Minister Abba Eban warned here that “There can be no slackening of Jewish response or financial support” for Israel “as a result of the interim Sinai agreement or the expected substantial American aid without serious consequences for Israel, especially in its efforts to relieve the enormous pressure on its economy as a result of inflation and a record deficit in its balance of payments.”

Addressing an audience of 400 at a State of Israel Bonds inaugural dinner, the first of a series of appearances the Israeli diplomat will make on his current tour of American cities on behalf of the Israel Bond Organization, Eban said that “Israel Bonds, which have been at the core of our economic growth for a quarter of a century have never been more vital than today in buttressing our economy and as an indispensable factor in preserving our independence and security.” He emphasized that the bulk of financial assistance expected from the U.S. will go to meet Israel’s overwhelming defense needs. He said an increased response to the Israel Bond campaign was essential not only to meet Israel’s current, critical economic needs but to promote the country’s economic development “in the coming months of hoped for increased tranquility.”

Speaking of Israel’s new interim agreement with Egypt in Sinai, Eban said that Israel gave more than it received but “it was a very important step away from war.” A total of $83.3 million in Israel Bonds were purchased at the dinner. Eban’s tour for the Bond organization will take him to New York, Baltimore, Chicago, Miami, Detroit, Newark and other New Jersey communities and to Toronto, Canada.