The board of directors of the Export-Import Bank today announced a credit of $20,000,000 to Israel for industrial development. This brings to over $73,000,000 the amount which has been allocated from the original $100,000,000 loan.
Between 200 and 250 Israel firms will participate in the benefits. The firms will receive credits to purchase in the United States machinery, textiles, food, processing chemicals, pharmaceutical products, work and building materials, glass and cotton weaving machinery.
(In Tel Aviv, the Israel Treasury announced receipt of a cable from the Export-Import Bank at Washington, conveying approval of another advance of $20,000,000 of the original $100,000,000 credit, to be allotted to various industrial development projects which have already been approved. Previous allocations have been made for agriculture, $35,000,000; building construction, $5,000,000; communications, $11,000,000; and harbors, $2,350,000.)
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