Israel and the United States signed today an additional agreement for purchase in 1965 of $17,400,000 in surplus American commodities, bringing the total purchases to date for next year to $34,400,000.
Ambassador Avraham Harman signed the agreement which expands the assistance Israel receives from the United States under Public Law 480. In 1964, Israel obtained $25,500,000 worth of surplus United States commodities. The new $17,400,000 transaction covers feed grains, rice, beef and tobacco.
Sixty-five per cent of the Israeli pounds generated by the transactions will be loaned by the United States to Israel to finance economic development, including construction of new secondary schools. Twenty per cent will be set aside in Israeli pounds to pay for research for United States Government agencies and scientific translations. The remaining 15 per cent is designated for loans to Israeli and American private enterprise.
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