The US Embassy presented to the Finance Ministry on Thursday a check for some $9 million to help finance economic development projects. This sum was made available under terms of a 1967 US-Israel agreement for the sale in Israeli pounds of farm products. The loan was allocated for development of Israel’s present railway systems, laying of new tracks, development of agriculture and of public and government buildings. The money was given in the form of a loan at 4-3/4 percent interest for 30 years repayable in Israel pounds, officials said.
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