PICA stands for the Palestine Jewish Colonisation Association. In 1924, Baron de Rothschild separated the administration of his activities in the Yishuv from the umbrella of ICA and established a new company known as PICA. He appointed his son, James de Rothschild ‒ who had proven skills and a love of the land of Israel ‒ as the organization's first president. Though PICA focused on the agricultural settlement of the land of Israel, it took on additional goals: acquiring lands, creating infrastructure, fostering the development of industry, agriculture, and manufacturing, and introducing innovative technologies. It was already providing credit to industrial entrepeneurs and encouraging individuals and groups to invest in and develop the Yishuv. After receiving rights to use the land from the British government ‒ the result of an international endeavour and investments that took more than a decade ‒ PICA's first activity was to drain the Kabara swamps at the southern edges of Mt. Carmel . This made it possible to rid the area of malaria and devote thousands of dunams to agriculture and new settlements. PICA established and helped support dozens of communities throughout the land of Israel - moshavot, moshavim, and kibbutzim. In 1957, James de Rothschild transferred to the state all the lands that belonged to PICA, explaining that the organization had fulfilled its mission; the public structures in the various PICA communities were passed on to the local authorities.