,
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Minister Suggests
Forgoing Aid For Loans
Jerusalem (JTA) — Fi-
nance Minister Yitzhak
Moda'i has stunned govern-
ment colleagues by sug-
gesting that Israel would be
prepared to give up the $1.2
billion in economic aid it
receives each year' from the
United States in exchange
for the $10 billion in
U.S.-guaranteed loans it is
seeking- over the next five
years for resettlement of
Soviet immigrants.
Mr. Moda'i was quoted by
the Washington Post as say-
ing Israel could live without
the economic assistance if
the U.S. government under-
wrote the loans, enabling it
to borrow the $10 billion at
low interest rates from
commercial banks.
He proposed that at the
end of the five-year loan
period, the U.S. aid package
could be reduced by a third,
or $400 million, each year
for three years, after which
point Israel would receive no
further economic aid.
Mr. Moda'i said nothing
about the $1.8 billion in
military aid Israel gets from
the United States each year,
also in the form of a grant.
"The suggestion seems to
be too generous," said Amos
Rubin, economic adviser to
Prime Minister Yitzhak
Shamir.
Senior Treasury officials
said it was too early to con-
sider foregoing U.S. econ-
omic aid, given the delicate
state of the Israeli economy.
In any event, Moda'i did not
coordinate his statement
with them, they said.
But at least one respected
economist thought Mr.
Moda'i's suggestion was
"not a bad idea."
Gideon Eshet, writing in
Yediot Achronot, observed
that the annual American
aid services Israel's debts for
security assistance received
in the past.
Inasmuch as payments on
those debts will decrease by
the end of the decade and
since the Americans are
likely to reduce assistance
anyway, "why not look good
now and announce we can do
without it?" Mr. Eshet
wrote.
The catch, he said, is that
in order to be able to live
without the annual U.S. sti-
pend, Israel would have to be
assured of at least a decade
of economic growth.
"One cannot commit
oneself purely on the
grounds of rosy economic
forecasts," Mr. Eshet said.
India Is Ready
For Israel Ties
New York (JTA) — India is
"mentally prepared" to re-
view its relationship with
Israel but will not be held to
any timetable, Prime Min-
ister Narashimha Rao told
World Jewish Congress Co-
Chairman Isi Leibler at a
meeting last week in New
Delhi.
According to the WJC, Mr.
Rao intimated that his coun-
try's longstanding hostility
toward Israel was "under
review" and that "visible"
changes could be expected.
But he refused to say when,
insisting that India would
proceed at its own pace, dic-
tated by its own priorities.
The two countries do not
have full diplomatic rela-
tions.
"I would like to have heard
something more immedi-
ate," Mr. Leibler said. "But I
am nevertheless encouraged
by Mr. Rao's generally
positive and open-minded at-
titude on the question of re-
lations with Israel," he add-
ed.
He described Mr. Rao's
position as "light years
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ahead of the negativity and
hostility displayed by his
predecessors."
Mr. Leibler raised several
issues, such as India's con-
tinued refusal to establish
full, reciprocal diplomatic
ties with Israel, its trade
boycott of the Jewish state
and its continuing support of
the 1975 U.N. General
Assembly resolution
denigrating Zionism as
racism.
But a visiting Anti-
Defamation League delega-
tion got the same answers
when they visited New Delhi
three years ago and met
with Mr. Rao, who was then
foreign minister.
"We received the same
promises that Isi Leibler
received," Abraham Fox-
man, ADL's national direc-
tor, said last week.
."I think the Jewish people
are losing their patience
with the promises," Mr.
Foxman. said. He added, "I
think it is sad that such a
large, democratic nation
keeps itself hostage to Arab
and Moslem threats."
.
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