Nonetheless. Mr. President. the delay in this legislation does not diminish in any way the urgent need these loan guarantees will address. And it does not diminish in any way the critical role these loan guarantees will play in helping the absorption of refugees in Israel. These loan guarantees are absolutely essential if Israel is to complete its remarkable mission of humanity. Mr. President. the way these loan guarantees will work deserves some explanation. This is not a cash grant. nor is it a loan. Under this program. the United States will simply offer to underwrite up to $10 billion of private. commercial loans to Israel.
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refugees