An estimated $500,000,000 worth of materials, products and equipment has been received by Israel or contracted for under the West German Reparations agreement, Ambassador Eliezer Shinnar, director of the Israel Purchasing Mission in Cologne, reported here today. The agreement provides for total payments of $822,000,000 to continue until the end of March, 1966.
Mr. Shinnar, who was accorded the title of ambassador in recognition of his services as head of the mission since 1952, said that the mission enjoys semi-diplomatic status and maintains top-level contacts with the West German authorities.
He reported that from the $60,000,000 paid annually to Israel, $18,000,000 is transmitted to the European Payments Union for various oil supplies. The remainder is divided on the basis of 65 percent for capital investment needs and 35 percent for raw materials and semi-finished goods.
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.
