The Government of Israel today approved a loan of 15, 000, 000 Israeli pounds ($5, 000, 000) to the Hebrew University. The loan, to be paid back over a 10-year period, is now subject to approval by the Parliament’s finance committee, which will hold a special session during the six-week Passover recess, to endorse the aid measure. The loan will be guaranteed by the Government.
The loan approved today is in addition to the Government’s regular financing of the University. At the same time the Government called on the Friends of the Hebrew University throughout the world to raise an additional 27, 000, 000 Israeli pounds ($9, 000, 000) for the Jerusalem institution. The university’s obligation to repay loans amounting to 40, 000, 000 pounds ($13, 300, 000) within the next two years necessitated turning to the Government for assistance.
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