Israel Seeks USD 12 B Aid Package in Washington

World | January 5, 2003, Sunday // 00:00

An Israeli delegation will try to secure an emergency aid package worth $12bn in Washington. Israel's economy is suffering from one of the worst crises in the country's history. The conflict with the Palestinians, together with the world economic downturn, has led to rising unemployment and falling investment. The delegation includes the head of the prime minister's office, Dov Weisglass, as well as the directors general of the finance and defence ministries. A third of the aid package would be for military and security spending, to help Israel fight the Palestinian uprising and boost its defence preparations for a possible US-led war against Iraq. The rest of the money would be in the form of loan guarantees.

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