A development loan of 5, 800, 000 Deutschemarks (about $1, 450, 000) to Israel, to help the Jewish State solve its housing shortage, was voted here today at a meeting of the West German Association of Municipalities.
Under this plan, every West German city with a population of 200, 000 or over will be asked by the association to contribute at least 50. 000 marks to the loan fund. The Senate of West Berlin has pledged to advance 300, 000 marks. According to the West Berlin Senate representative at the meeting, the loan is being granted “because of the realization of Israel’s housing difficulties, due to the constant flow of immigrants into Israel.”
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