A major effort to speed economic aid to Israel following the signing of the peace treaty with Egypt has been launched by the Israel Bond Organization. The 65-city cash campaign, which will continue until Israel Independence Day on May 2, began immediately following Israeli Premier Menachem Begin’s farewell appearance at Avery Fisher Hall in Lincoln Center last Wednesday, two days after the treaty was signed in Washington, where he referred to the role of Israel Bonds in the economic development of Israel.
In announcing the campaign, Sam Rothberg, general chairman of Israel Bonds, said that with the conclusion of the peace treaty Israel will be confronted with new and serious strains on its budget.
“U.S. grants and loans,” Rothberg said, “will not materially reduce the enormous pressures on Israel’s economy. It will cost billions to develop the economic and social infrastructure of the Negev where thousands of people will have to be moved. In addition, Israel must continue to cope with many critical economic problems, including a staggeringly high inflation rate, a serious balance of trade deficit, and the urgent need to develop new energy resources.”
Stanley Hatoff of Boston, national cash collections chairman, will coordinate the efforts of thousands of volunteers throughout the country who will serve as members of a “Cash Mobilization Task Force.”
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