HUD DEPUTY SECRETARY PATENAUDE AND ISRAELI DEPUTY FINANCE MINISTER COHEN SIGN JOINT MEMORANDUM OF COOPERATION
Action paves way for increased collaboration on housing and community development

WASHINGTON - U.S. Housing and Urban Development (HUD) Deputy Secretary Pamela Hughes Patenaude, on behalf of HUD Secretary Ben Carson, and Israel's Deputy Finance Minister Yitzhak Cohen today signed a Memorandum of Cooperation to increase collaboration between the United States and the State of Israel on a host of housing, community development and mortgage finance issues. The signing took place in Jerusalem during a meeting of the U.S.-Israeli Joint Economic Development Group (JEDG). Treasury Secretary Steven Mnuchin is leading the U.S. delegation on behalf of President Donald Trump.

The cooperative memorandum signed today establishes the formal exchange of information and research related to low- and moderate-income housing, mortgage and housing finance, rental housing assistance, management of public housing, and community development. Read the joint Memorandum of Cooperation.

"This cooperative agreement will serve as another building block in strengthening the close ties between our nations on a number of common issues that impact our citizens," said Patenaude. "We plan to share research and best practices for addressing the affordable housing challenges facing our nations. I am convinced that working together, we will be able to learn from each other to improve the lives of those we serve."

"The Memorandum of Cooperation on housing is an opportunity to deepen the close ties between Israel and the United States on an important issue that preoccupies both countries," said Cohen. "Israel and the United States are facing very different housing challenges, but we can learn from these differences and cooperate on sharing acquired knowledge for the benefit of the next generations."

Deputy Secretary Patenaude's visit to Israel and the formal execution of the Memorandum of Cooperation is the result of the extensive work following last year's JEDG meeting when Minister Kahlon led a delegation to Washington, D.C.

During this year's JEDG meeting, Deputy Secretary Patenaude is participating in a panel discussion on affordable housing with Zeev Bielski, the Head of the Israeli Housing Administration. She will also join a roundtable at the Urban Clinic at Hebrew University, tour an affordable housing development and visit a development built to withstand earthquakes.

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