The Weizmann Institute of Science will receive loans from the United States totaling 70,000,000 pounds ($23,000,000) to be allocated from counterpart American funds accumulated in Israel, it was announced here today to the Institute’s board of governors by Meyer Weisgal, chairman of the board.
The funds will be made available to the Institute at the rate of 10,000,000 pounds ($3,300,000) pert year over a seven-year period. The Institute will repay the loan over a period of 20 to 30 years.
The 30th anniversary of the Sieff Institute, from which the Weizmann Institute eventually developed, was married here today with the dedication of a new organic chemistry wing opened by Israel and Rebecca Sieff, prominent British philanthropists.
Among those taking part in the ceremonies were Abba Eban, Deputy Prime Minister of Israel and president of the Weizmann Institute; British Ambassador John Beith; Myer Feldman, Chief Legal Counsel to President Lyndon B. Johnson; Nobel laureate Robert Robinson; and members of the Institute’s board of governors.
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