The refusal on the part of the United States Government to grant a loan to Israel for the purpose of repayment of short term debts in America was explained by the argument that Israel will be able to repay these debts from income received through the United Jewish Appeal, the sale of Israel Bonds and reparations from Germany, it was revealed here today.
Informed circles indicated today that the amendment to the Mutual Security Act passed by the U.S. Congress restricting foreign governments from using American grant-in-aid funds to “make payment on account of the principal or interest on any debt” is not aimed at Israel but is directed chiefly against European countries. The Israel Government expects to receive $70,000, 000 in grant-in-aid funds from the United States this year.
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.
