The Export-Import Bank is expected to act favorably in the reasonably near future on an Israel request for a $75,000,000 loan to finance development of water resources other than the main Jordan River scheme, it was indicated here today by Israel circles, which confirmed that the application had been made. The bank is an agency of the U.S. Government.
Meanwhile, the Administration made known it is asking development assistance funds totalling $139,000,000 for the new fiscal year for Israel, the Arab states, Ceylon, India, and Nepal. Stephen P. Dorsey, acting director of Near Eastern Operations of the International Cooperation Administration, testified before the Senate Foreign Relations Committee. He did not break down the regional total in a way that might spell out how much Israel and other states would get in their share.
Mr. Dorsey requested authority to carry over $45,300,000 of unobligated Palestine refugee program funds. He also requested a special fund of $100,000,000 for flexible use in providing economic assistance at the discretion of the executive branch. It is thought funds for the Aswan high dam in Egypt might come from the $100,000,000 because Congress has indicated some opposition to the idea of making a direct allocation for the project.
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