“Israel illustrates what can be done with a most unpromising base of natural resources, by intelligence, hard work, sound policies and sensible application of modern scientific and technological knowledge, ” American Foreign Aid Director David Bell declared in a speech at the University of Houston.
Reviewing problems of assistance to underdeveloped countries, Mr. Bell held out Israel as an example of success, and said: “Israel has had extensive help from the United States and Europe; but, above all, it has had the kind of strong and sensible leadership which has been able to make most of its own resources plus those obtained from outside.”
“Israel was just recently established as an independent nation whose future was very much in doubt. Today the Israelis have achieved a remarkable economic growth, with an annual growth rate for the last five years of around 10 per cent–one of the highest in the world. U.S. soft leans and grants have helped in the process; they have done their work and have been successful; and the need for them will soon end,” Mr. Bell declared.
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