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Israel Government, Jewish Agency, Histadrut Establish $2,800,000 Fund for Cooperatives

February 24, 1950
See Original Daily Bulletin From This Date

The Israel Government, the Jewish Agency and the Histadrut are jointly establishing a fund of $2,800,000 for the development of cooperatives, it was announced here today.

Sixty-five percent of the fund will be used for the ostablishment of new cooperatives for some 2,400 workers this year. The remaining $980,000 will to advanced as Loans to new immigrants to enable them to join oxisting cooperatives. In addition, the Agency will grant longterm loans at three percent interest to 110 established cooperative settlements. Last year some 2,500 workers were absorbed into new cooporative enterprises.

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