The German-Israel mixed reparations commission announced today completion of an agreement under which Germany will provide Israel with a variety of goods and services totalling about $59,500,000 during the fiscal year beginning April 1, 1954.
The equivalent of about $18,000,000 of the total will go for payment for oil products purchased by Israel from sterling bloc countries and paid for by Germany from sterling credits it owns in those countries. The remaining $41,500,000 covers a large variety of raw materials, agricultural products and industrial goods and insurance and administrative costs.
This is the first such agreement to be worked out by the mixed commission, the previous arrangements having been worked out by the negotiators at The Hague who concluded the overall pact. Israel submitted the list of goods it wanted for the 1954 fiscal year some five months ago and from last January 6 until the agreement was concluded late today German and Israeli negotiators worked on the list.
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