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World Bank Management Recommends $27,500,000 Loan for Israel Port

August 2, 1960
See Original Daily Bulletin From This Date

The management of the World Bank has concluded negotiations with an Israeli delegation and recommended a $27,500,000 loan to Israel to construct a new port at Ashdod, about 20 miles south of Tel Aviv.

The board of directors of the bank is expected to act on the recommended loan on Aug. 18, when the board is scheduled to meet. Informed sources predicted that the loan will be approved without major difficulty. The negotiations were concluded here during the past weekend by an Israeli delegation headed by David Horowitz, Israeli delegate to the bank.

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