The Israel Government last night announced the release of another $14,500,000 of American grant-in-aid funds. The sum will be divided as follows: $5,500,000 for agricultural development; $4,750,000 for the purchase of crude oil: and the remainder for the purchase of foodstuffs.
The 34-man economic advisory board met for a second time today under the chairmanship of Premier David Ben Gurion. The board, whose function is to advise the government on the implementation of the new economic program, discussed methods of preventing a black market in building materials while still encouraging much needed construction activity. It approved a number of measures which will be promulgated shortly, and approved the granting of credits for agricultural development. The question of priorities for credit for industrial purposes will be considered at the board’s next meeting.
A Ministerial committee, also headed by the Premier, today decided to permit all Israeli students studying abroad to complete the current semester. After that, only students studying vital professions, who cannot continue their work in Israel will be permitted to remain abroad. These actions will be taken to conserve Israel’s foreign currency stocks.
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