811.516 Export-Import Bank/10–2849: Telegram
The Secretary of State to the Embassy in Israel
689. Board Eximbank Oct 26 authorized credit $20 million under $100 million to assist financing purchase US equipment materials services required for industrial projects designed to contribute industrial [Page 1456] development Israel, as may be approved from time to time by Board.1 Int 3½%. Amortization 15 yrs.
Each project involving financing of more than $50,000 must be presented to Board for formal approval and projects this amount or under must be submitted from time to time for Boards administrative approval.
Israel already submitted 39 industrial projects amounting abt $11 million.
Board considered and approved financing 28 projects about $6.1 million. Eight projects about $2.7 million require further info and on three about $2.2 million Israeli not completed its study.
- The Department, on October 27, sent to Tel Aviv the text of the press release issued by the Bank concerning the $20 million credit. The release stated that this action brought to $73,350,000 the total credit extended to Israel by the Bank (telegram 687, 811.516 Export-Import Bank/10–2749).↩