The Deutsche Laender Bank will make the equivalent of about $34,000,000 in marks immediately available to the Israel Government’s purchasing mission here as a result of the entry into force of the German Israel reparations agreement, the instruments for which were exchanged last Friday at Un ited Nations headquarters.
Under the agreement, West Germany is making $47,600,000 available to Israel by March 31 of this year. Since Germany has already advanced to Israel the sterling credit equivalent of about $14,000,000 to cover Israel oil purchases from British concerns, the mission will have at its immediate disposal here for purchase of machinery, materials, etc., approximately $34,000,000.
The first semi-annual installment for the 1953-54 fiscal year, amounting to $24,000,000, will become due in April, about the time the Israel purchasing mission begins to function on a large scale here. The mission will consequently have about $68,000,000 at its disposal.
The Jewish Restitution Successor Organization, which operates in the United States zone of Germany to recover Jewish heirless and communal property confiscated by the Nazis, has turned over 25,000 marks to the Jewish Blind Society of London. This represents part of the proceeds of the sale of property in Berlin formerly owned by the society.
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.
