Speaker. I am proud to support this measure because It Includes loan guarantees for the State of Israel. These loan guarantees are crucial as Israel continues to absorb new immigrants. mostly from the Soviet Union and Ethiopia. Over the next 4 years Israel expects to receive between 750.000 and 1 million additional Soviet Jews. It Is anticipated that the State of Israel will spend between $45 billion and $50 billion to provide housing. Infrastructure. clothing. food. education. transportation. training. and other services associated with the absorption of these new immigrants over the next 5 years. The loan guarantees will allow Israel to borrow $10 billion from United States commercial banks. pension funds. corporations. and other sources to meet this demand. Our Government will guarantee repayment of the loans at no additional cost or burden to our economy.
Keywords matched
immigrants