The World Commerce Corporation of New York has agreed to extend $5,000,000 worth of credit to the Israel Government, it was announced here today. The credit, which will be granted for a poried up to five years, will be used for the purchase of foodstuffs, fodder and raw materials. The total may later be raised to $7,500,000.
Imports into Israel amounted to about $21,000,000 during April of this year and exports totalled $3,000,000, it was revealed today. For the first four months of this year the imports total about $87,000,000 and the exports amounted to loss than $20,000,000. The Israel diamend industry has received an allocation of about $500,000 for the purchase of crude diamends in July. This will keep the level of employment in the industry at approximately the same point as in recent months.
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