Palestine Economic Corporation
Palestine Economic Corporation (PEC) was a public company originally incorporated in the United States, aimed at supporting the economic development of Palestine. It was formed in February 1925 with the merger of Palestine Co-operative Company with "capital from the offices of the Joint Distribution Committee".[1]
In 1926, the corporation agreed to advance about $750,000 toward completing Pinhas Rutenberg's hydroelectric power station on the Jordan River. Its president was Bernard Flexner, and its board of directors included Louis Marshall, Herbert H. Lehman, Felix M. Warburg and the banana businessman Sam Zemurray.[2]
Early Investments and Operations
- Palestine Mortgage and Credit Bank Ltd.
- Central Bank of Co-operative Institutions in Palestine Ltd.[3]
- Palestine Water Company Ltd.
- Bayside Land Corporation Ltd.
- Loan Bank Ltd.
References
- ↑ Gal, Allon (1982-09-01). "Brandeis's view on the upbuilding of Palestine, 1914–1923". Studies in Zionism. 3 (2): 211–240. doi:10.1080/13531048208575826. ISSN 0334-1771.
- ↑ "To Aid Power Plant on Jordan River: Palestine Economic Corporation Ready to Advance $750,000 to Finish Undertaking". The New York Times. June 1, 1926. p. 16.
- ↑ El-Eini, Roza I. M. (1997). "Rural Indebtedness and Agricultural Credit Supplies in Palestine in the 1930s". Middle Eastern Studies. 33 (2): 313–337. doi:10.1080/00263209708701155. ISSN 0026-3206. JSTOR 4283870.
External links
- Palestine Economic Corporation at the Jewish Virtual Library.
- Palestine Economic Corporation records at The New York Public Library.