The New York Times today reported from Tel Aviv that under a master development program devised by Solomon Trone, a United States engineer, the Israel Government is preparing to invest $615,000,000 of the reparations funds to be paid by West Germany, $181,000,000 obtained from other countries and $825,000,000 in local currency over a ten-year period. Israel expects to receive $715,000,000, mainly in goods from Germany.
Long an employe of the General Electric Company, Mr. Trone has worked as an engineer on the Dnepropetrovsk dam in the Soviet Union, the Yalu River dam in Korea, in China and in India. For the last eight months he has been employed by the Israeli Government and has submitted more than 30 reports on various phases of the country’s economy.
Under Mr. Trone’s plan, the largest investments will go into irrigation, building electricity, railway and road transport. Purchases in countries other than Germany were provided only in the case of electrical goods, such as wiring, requiring large quantities of non-ferrous metals, which are not readily obtainable in Germany.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
