Finance Minister Yehoshua Rabinowitz said after his return from Washington that he was not entirely satisfied with the extent of American financial aid offered Israel in the wake of its new interim agreement with Egypt in Sinai. Rabinowitz, who was in Washington earlier this month, said he had hoped for at least $2,5 billion this fiscal year but expects no more than $2,3 billion, subject to the approval of Congress.
The Finance Minister said Israel would spend $150 million to construct its new defense line in Sinai; $350 million to purchase oil; and another $50 million of U.S. aid to construct subterranean oil storage tanks. He said, however, that the sums earmarked for oil purchase and storage facilities have nothing to do with compensation for handing back the Abu Rodeis oilfields to Egypt. The ways and means that Israel will be compensated for the Abu Rodeis oil are yet to be decided, Rabinowitz said.
He disclosed that Israel would receive $200 million from the International Monetary Fund, of which $100 million is expected next month. Last year, Israel received a $70 million loan from the Fund.
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