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Bank of America Grants $10,000,000 to the State of Israel

December 21, 1951
See Original Daily Bulletin From This Date

The Bank of America has granted a loan of $10,000,000 to the State of Israel, it was announced here today by David Horowitz, Director General of Israel’s Ministry of Finance, who is returning to Israel tonight after a brief visit to this country.

Mr. Horowitz, assisted by Sidney S. Green, financial adviser to the Israeli Treasury Department in the United States, negotiated the loan for Israel. The collateral behind the $10,000,000 loan is the Israel Bond Issue, now being sold in this country. “We are pleased to note that in granting this loan the Bank of America has signified its faith in our capacity to make good, and in our firm desire to build a democracy that will make its fullest contribution to the peace and progress of mankind,” Mr. Horowitz declared in a statement to the press.

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