A drive to raise 60 million Israeli pounds ($20 million) in investment capital from friendly labor movements in Europe and the U.S.A. was disclosed last night at a meeting of the Histadrut Executive here.
Secretary General Aharon Becker reported that half the amount – $10 million – was expected to come from the AFL-CIO in the U.S.A. through AMPAL, American-Israel Trading Corp. Of the balance, 250,000 pounds sterling ($700,000) would be in the form of an investment by the British Transport and General Workers Union over a 15-year period in the Histadrut Investment Corporation. A special drive will be made in Israel to raise 1 million Israel pounds, ($330,000) from a quarter of a million workers in Histadrut enterprises in Israel who would invest their savings.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
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.
