A move that will probably double the number of telephones in Israel was announced here today when the board of directors of the United States Development Loan Fund announced a $6,000,000 loan to Israel for the expansion of the telephone facilities to a total of 50,000 lines. The loan will assist in financing foreign exchange costs in acquiring new equipment.
The equipment will be bought in the United States. The loan is for a ten-year term at three and one-half percent interest annually. It will be disbursed in Israeli currency. The Government of Israel will finance from its own funds an additional amount for equipment under this program.
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.
