Israel and the United States today signed a formal agreement here on America’s grant-in-aid to the Jewish State under the Mutual Security Act. The agreement was signed by Foreign Minister Moshe Sharett on behalf of Israel and by U.S. Ambassador Monnet Davis on behalf of the American Government.
The agreement covers $50,000,000, of which $25,700,000 has already been alloted. The remainder will be alloted shortly for the purchase of foodstuffs and supplies for irrigation and power installations. An agreement on $15,000,000 allocated by the United States to Israel for economic aid and development will be signed here shortly.
The agreement signed today stipulates the establishment of a special account for deposition of Israel currency equivalent to dollars provided by the United States at the official or other agreed upon rates, but in no case below the official rates. The expenditure of the grant-in-aid will be under the supervision and direction of the American director for technical cooperation jointly with a representative of the Israel Government.
Israel today also signed an agreement with France covering landing and other rights of aircraft of each country in the other. This is the sixth air agreement signed by Israel with a foreign countries. The others were with the United States, Britain, Holland, Turkey and the Philippines.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
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.
