News Briefs

  Cheshvan 27, 5769 , 25/11/08

Finance Ministry Announces Steps to Help Markets

The Finance Ministry announced a series of steps on Tuesday morning to intervene in the financial crisis. The ministry's program includes 11 billion shekels worth of capital and guarantees.

Six billion shekels in guarantees will be given to the banking system for the purpose of raising capital and widening credit. Another five billion shekels will be made available for the establishment of investment funds to be used in conjunction with pension funds, which have been hit hard by recent stock market losses. The program also includes arrangements for people holding corporate bonds to get a better return on their investments and offers tax incentives to encourage investments and increase the flow of capital to Israel.

Other archived news briefs:Nov 25 2008, 09:27 AM, 11/25/2008