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World Bank Sends Port Authority Expert to Israel; Considers Loan

April 19, 1960
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Austin J. Tobin, executive director of the Port of New York Authority, is going to Israel next month to probe the possibility of establishing a port authority for the entire country, it was announced here this weekend by the International Bank for Reconstruction and Development.

A loan from the bank to Israel has been pending for some time, and the bank is expected to decide on the loan before the expiration of the current fiscal year, which ends June 30. The loan includes money which Israel plans to use for $64,000,000 worth of port developments at Haifa, Eilat and Ashdod.

Mr. Tobin, who is considered by the World Bank as the “most highly qualified man” in his field, said here he would go to Israel without salary, and will spend ten days or two weeks there studying the country’s port problems and harbors. He said he would not be paid for his special services to the World Bank. His salary as head of the Port of New York Authority is $60,000 a year.

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