The Export-Import Bank today announced a credit of $5,000,000 for Israel to be used for low cost housing projects on the outskirts of Haifa and Tel Aviv.
The money will be used for purchase in the United States of structural steel, timber, construction equipment, and household fixtures. About 15,000 housing units are expected to be built with the help of the credit. The Israeli Government is going to spend $15,000,000 additional on the project. The $5,000,000 is part of the original $100,000,000 loan.
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