The establishment of a $100,000 loan fund to help mortgage financing of housing for American youths–sons and daughters of members of the Zionist Organization of America–who have gone to live in Israel was announced here today by Abraham Redelheim, ZOA president.
Mr. Redelheim made the announcement at a meeting of the National Executive Council of the organization. He said this fund will be in support of the mortgage fund set up by the Association of Americans and Canadians in Israel for the purpose of acquiring adequate housing for Americans and Canadians in the Jewish State. He pointed out that the shortage of mortgage financing in Israel for prospective American settlers has prevented many Americans from carrying out their settlement plans even though they had overcome all other problems such as language, education and gainful employment.
“The establishment of this fund”–the speaker said–“will fill a long felt need of assisting American young people in fulfilling their ardent desire to participate in person in the development and up building of the State of Israel. “He indicated that American Jews interested in this project may use their Israel Government bonds for this purpose.
Other speakers at the meeting were Dr. Emanuel Neumann who warned of Nasser’s designs, and Rabbi Max Nussbaum, chairman of the Council, who scored Washington’s inaction against the Arab boycott of American firms dealing with Israel.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
