State of Israel Bonds Pledges $100 Million for First Stage of Mediterranean-dead Sea Canal

The Israel Bond Organization will raise $100 million to finance the first stage of the proposed canal between the Mediterranean and the Dead Sea, Samuel Rothberg, general chairman of the Bond Organization, announced today at a dinner session with Premier Menachem Begin.

The announcement came at the end of a day which was devoted to an aerial view of the route of the planned canal. The delegation of 125 members of the Israel Bond Century Club, purchasers of $100,000 or more in Israel Bonds, was flown in army helicopters to survey the proposed route of the canal. The project was approved in principle by the government last August.

The Bond participation in the project will be above and beyond the regular commitments of the organization. The cost of the entire project is now estimated at $800 million, most of which the government plans to raise from outside sources. The Bond leaders are in Israel for a three-day conference at the invitation of Begin.

BEGIN DENOUNCES ISLAMIC WAR CALL

Addressing the guests, Begin used the opportunity to react to the resolution of the Islamic summit conference in Saudi Arabia calling a holy war (jihad) against Israel.

The jihad was called for by the need to “liberate” Jerusalem, but Begin responded: “Jerusalem is not in need of liberation. Jerusalem is liberated, free and indivisible.” It is Israel’s capital, he said, and will be for all generations to come. “No jihad will frighten us,” he said.

Begin called for the resumption of the autonomy talks, “which were not interrupted by us,” but he set two conditions for the resumption of the talks: no Palestinian state, and Israeli control of security on the West Bank.