Israel’s effort to obtain a doubling of its present quota in the International Monetary Fund to $50,000,000 is “being favorably considered” by IMF officials, David Horowitz, Governor of the Bank of Israel, said here today.
Mr. Horowitz, who returned from an IMF conference in Washington last week, said that, if the Israeli bid is approved, Israel will have to deposit 25 per cent of that sum. However, Israel would then be entitled to draw on the full amount or even more as a loan, should it need help in meeting its balance of payment difficulties.
M.H. Rocherau, the head of a European Economic Community delegation now visiting Israel, conferred here today with Finance Minister Pinhas Sapir regarding the implementation of the recent decision by the Common Market to include Israel’s aid projects in Africa within the aid framework of the EEC. The association will take the form of a grant of Euromart scholarships for African students studying in Israel. The EEC delegation also met with Prime Minister Levi Eshkol and Deputy Premier Abba Eban.
M. Rocherau, who is a member of the EEC Commission in charge of assistance to African countries, noted that Israel is, so far, the only non-member of the Common Market to be included in the EEC aid framework. The Common Market official also discussed with Mr. Sapir the possibility of Israel participating in pro-African development projects to be financed by Euromart’s special fund.
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
