Additional details of the recently announced 5,000,000 schilling loan to the Vienna Jewish Community by the Austrian Government were made public here today.
The 20-year loan, which was made against anticipated receipt of heirless property funds by the community, will be used for vocational retraining of community members and for supplying a works project for unemployed Jews here. The community had to pledge some of its real property as collateral for the loan in the event the restitution program is not put into effect as now visualized by the government.
The funds advanced by the government will come from blocked accounts. Approval for the transaction was given by the American authorities. The details of the loan were worked out from a proposal put forth by the Joint Distribution Committee which participated in the negotiations.
The J.D.C. has advanced 600,000 schillings to the community for a home for the aged in Vienna. Of the 300 patients who will use its facilities, 100 are expected to be completely bedridden.
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