After the completion of preliminary formalities, it is expected here that a Government loan of £250,000 will shortly be granted Tel Aviv.
Of this sum, 100,000 will be used to finance public works projects. The remainder will be earmarked for repayment of debts accumulated in recent years. The loan will be part of the general 750,000 credit announced by the Government two months ago. It carries a 3 12 per cent interest rate.
An estimated 1,000 persons are expected to be employed on the first public works projects made possible by the loan.
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