The Keren Hayesod, fund-raising arm of the Zionist movement, will soon be turned into an Israeli corporation known as the Keren Hayesod-United Israel Campaign, it was decided here last night at a meeting of the fund’s board of directors. Since its formation, the Keren Hayesod has been registered as a British corporation.
Foreign Minister Moshe Sharett reported to the meeting on the results of the Joint Palestine Appeal campaign in Britain, which he helped launch in February and which raised about as much money this year as last.
Levi Eshkol, Minister of Agriculture and Jewish Agency settlement official, reported that since the State of Israel was established the Keren Hayesod has financed the settlement of 20,000 families on 250,000 acres of land and that since 1936 it has helped 110 settlements reach economic self-sufficiency.
During the four years of the state’s existence, Minister Eshkol said, the fund has spent and invested over 136,000,000 pounds as follows: 10, 000, 000 pounds for immigration expenses; 44, 000, 000 pounds for absorption purposes; 11, 000, 000 pounds for Youth Aliyah; 47, 000, 000 pounds for agricultural settlements; 17, 000, 000 pounds for national organization and security purposes; 1, 500, 000 pounds for cultural purposes; and, 5, 000, 000 pounds for Jewish Agency administrative expenses and various other purposes.
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