Jewish Agency Budget of 157,325,000 Pounds Approved in Israel

A budget of 157,325,000 Israel pounds for the current year has been finally approved by the Jewish, Agency’s permanent finance committee, it was announced here today by Dr. Giora Josephtal, Agency treasurer. Speaking at a press conference here before his departure for the United States the Agency official gave newsmen a breakdown of income and expenditures for the current period.

The Agency will obtain its funds, he said in the following manner: 83,875,000 pounds from the United Jewish Appeal; 19,700,000 from German reparations, and 9,000,000 in advance payments on account of reparations 16,800,000 from loans; 4,050,000 from the Joint Distribution Committee, and the rest from various other sources.

Turning to expenditures. Dr. Josephtal asserted that the largest item would be for colonization amounting to 66,500,000 pounds. Other expenditures will include 18,650,000 pounds for immigrant housing; 8,570,000 for youth aliyah 8,225,000 for immigrant absorption projects; 8,450,000 for new immigration, and 20,000,000 for reimbursable loans.

The Agency, its treasurer declared, has been compelled to shoulder the burden of providing housing because the Government will be unable to tackle that problem in the light of the present emergency situation. He also indicated the reason for the Agency’s allocation of such large sums for agricultural projects was the State’s great need for the expansion of agriculture.

At the same time, it was revealed by Jewish Agency sources in Tel Aviv that 22,000,000 pounds will be spent on irrigation projects which will make possible the cultivation of 80,000 more dunams 20,000 acres. The money will be spent for new equipment, pipes and the construction of new dams in Lower Galilee. This area does not have sufficient water resources of its own and requires that water be piped in or that local dams be built.