High level negotiations were reported underway today on a $30,000,000 long-term credit grant from France to Israel.
The credit would help Israel overcome a gap in its foreign currency budget created by the unofficial freeze of American aid put into effect by the Eisenhower Administration at the start of the Israeli Sinai campaign.
The loan would enable Israel to buy needed meat, sugar and wheat, mainly from West African French possessions. Sources here disclosing the credit negotiations noted that the Israel Cabinet approved the establishment this week of a special Israel-West Africa trading company with government participation.
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