The United States and Israel signed an agreement today enabling Israel to purchase $10,700,000 worth of American surplus agricultural commodities. The agreement was signed by William Rountree, Assistant Secretary of State for Near Eastern Affairs, and Abba Eban, Israel Ambassador.
The commodities included under the agreement are 75,000 tons of wheat valued at $4,700,000; 40,000 tons of feed grain valued at $2,00,000; 3,500 tons of butter and cheese valued at $2,500,000; and 500 tons inedible tallow worth $100,000. The United States will also pay for half the cost of ocean transit.
In a statement after the signing Ambassador Eban said: “This agreement will assist Israel in three ways: first, it provides essential commodities for Israel’s economy; second, it enables us to pay on a long term basis in Israel currency, thus bring relief to our foreign currency budget; third, the investment by the United States of the Israel currency in development projects in Israel will contribute to the country’s economic programs.”
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