Mr. President. on September 10. my colleague. Senator KASTEN and I. announced our intention to submit an amendment providing for guarantees for $10 billion in loans for Soviet and Ethiopian immigrant absorption in Israel. I believe I should at the very outset underline the fact that this is a loan guarantee. It is not a grant of money to the people of Israel. We are not giving money to Israel. In many ways. this is just an act of friendship. For example. Mr. President. if a very dear and close friend of mine should go to a bank and seek a loan and the banker tells him. "Wed be very happy to lend you money but youll have to get someone to cosign your loan or guarantee your loan." this is all that this bill calls for. that we will cosign or guarantee the loan made by the State of Israel from banks in the United States to help themselves.
Keywords matched
immigrant