The Governor of the Bank of Israel, David Horowitz, said today he was “hopeful” of the success of his mission here–acquisition of a $30,000, 000 loan from the World Bank for construction of a national road network in Israel.
Mr. Horowitz, who will be here until the middle of this week, meeting with world Bank and International Monetary Fund officials–including the directors of both agencies, Eugene Black and Per Jacobsen–said that if the loan application is approved it could come through as early as some time during 1962. The amount of the loan being sought represents one-half the projected total cost of the construction program.
Go ahead signal for the start of work on the road building program awaits only approval of the loan, the high Israeli official stated. He said that the subject of the new loan was first broached last year in Vienna at a meeting of the World Bank. His visit here now is to present the formal loan proposal, complete with a detailed outline of the project which, the explained,”is the usual procedure in matters of this type.”
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