“The Government of Israel is giving the highest priority to the economic development of the country, ” Dr. Dov Joseph, Israel’s Minister of Development, declared here today upon his arrival to the United States to address the first International Planning Conference for Israel sponsored by the State of Israel Bond Organization. The conference will open in Washington next Friday.
Asked about the Arab massacre of 11 Israelis in the Negev, Dr. Joseph said he was “deeply shocked” that such killings could take place about 20 kilometers inside Israel. He added that since the United Nations Security Council was very sensitive to the Kibya incident, it is to be hoped that it will be no less concerned over the Negev outrage.
The Israel Minister emphasized that the central importance of Israel’s program to achieve economic self-sufficiency is reflected in the fact that Arab countries have been using economic weapons such as the boycott and blockade at the Suez Canal to Israel-bound shipping in an effort to undermine the existence of the State of Israel. “Under these circumstances,” he said, “the State of Israel has been deeply encouraged by the success of the Israel Government bond issue floated in the United States.”
As a result of the “gratifying response” to Israel bonds of the Independence Issue–subscriptions amounting to more than $161,000,000–the Government of Israel has not only decided to launch a new bend issue in the United States but to extend the sale of these bonds to other countries in the western hemisphere and to Western Europe, he declared. The total amount of this second issue is $350,000,000; of this amount $75,000,000 is to be sold in 1954.
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