Israel Joins Paris Club of Rich Countries that Help Poor Ones

The club is an informal group of governments that collectively negotiate deals with poor countries struggling with huge debts
29.06.14 / 10:36
Israel Joins Paris Club of Rich Countries that Help Poor Ones
29.06.14
Israel Joins Paris Club of Rich Countries that Help Poor Ones
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Israel joined an influential group of rich nations that help poor indebted economies, giving the country an international boost of recognition for its economic accomplishments.

 

The Paris Club announced Israel's induction, bringing its membership to 20 countries. The club is an informal group of governments, including the United States that collectively negotiate deals with poor countries struggling with huge debts.

 

It was created in 1956 and has worked out loan deals for 90 countries. Israel's finance minister Yair Lapid lauded the Paris Club announcement, saying it "shows Israel's economic might and presents additional proof that Israel's place is alongside the strongest countries."

 

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