Two of Britain’s largest Unions agreed today to loan 250,000 pounds ($700,000) to the Histadrut, Israel’s Labor Federation. This was believed to be the first such loan by British unions to a foreign country on a commercial basis.
The Transport and General Workers Union, largest union in Britain, is lending 150,000 pounds ($420,000) and the National Union of General and Municipal Workers is lending 100,000 pounds ($280,000). The loans have no political aspects and are being made at normal commercial interest rates or slightly more.
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