HOURS:
Mon.-Thurs. 9-7
Fri. 9-6, Sat. 9-5

tO

GROHE • HARRINGTON BRASS • GIORGIO • CLARKE

358-2333

of Southfield

Od

Israel Gets
Europe Loan

Israel will receive a $46
million 12-year loan from
the European Investment
Bank, 60 percent of which
will go to industrial devel-
opment, with the remainder
used to finance environmen-
tal projects.
The bank, based in Lux-
embourg, is the financial
arm of the European Corn-
munity. Since 1978, it has
provided Israel with $1.7
billion in loans, which have
been used to finance 65 pro-
jects in chemicals, the food
industry and plastics.
The loans have been
credited with creating more
than 2,000 new jobs in
Israel.
The bank lends the money
to the Industrial Develop-
ment Bank of Israel, which
is an important source of
long-term financing for local
industry.
While 60 percent of the
new round of loans will help
industries finance new pro-
jects, the Israeli government
puts a high priority on im-
proving the environment.
Projects in that area in-
clude the treatment of in-
dustrial waste, monitoring
atmospheric pollution and
maintaining a clean water
supply.
Improving the efficient use
of water resources is also
considered an environmen-
tal measure by the Israel
government. The 12-year
loan will be granted in the
framework of the third fi-
nancial protocol concluded
between Israel and the E.C.,
which is linked to a trade
and financial cooperation
agreement.

Jewish Telegraphic Agency

mmumm

l N EWS

Court Acquits
PLO Arms Group

Rome (JTA) — A court in
Venice last week acquitted
all 14 defendants in a case
involving alleged arms
traffic between the Palestine
Liberation Organization and
the Italian Red Brigades.
The verdict, which the
Italian news media called
"surprising," ended an in-
vestigation and trial that
began more than seven
years ago.
One of the accused freed by
the court was Abu Iyad, a
close aide to PLO chief Yassir
Arafat. Abu Iyad was
assassinated in Tunisia on
Monday.

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THE DETROIT JEWISH NEWS

47

