PEC Israel Economic Corporation - excerpt from Lee O'Brien, American Jewish Organizations and Israel, 1986

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This page is an extract, reproduced with permission, from Lee O'Brien, American Jewish Organizations and Israel, Washington DC: Institute for Palestine Studies, 1986. [1]


  • Year established: 1926
  • President: Joseph Ciechanover
  • Chairman of the Board: Raphael Recanati
  • Address: 511 Fifth Avenue, New York, NY 10017

PEC was established as the Palestine Economic Corporation by American Jewish leaders ‘to foster economic development and advancement in Israel.’ It is a profit-generating investment company. Over the five-year period from 1978 to 1982, the company's net income increased from $3.8 million to $14.4 million. PEC's holdings are in finance and banking, manufacturing, high technology, construction and development, and shipping and marketing enterprises. [2]

Notes

  1. This page is reproduced by permission of the Institute of Palestine Studies, granted on 25 February 2014. The Institute retains copyright of all material.
  2. PEC, Israel Economic Corporation, Annual Report, 1982. NIF