A NIS 800 million difference on construction costs remains between the government and Metro Transport Solutions (MTS) after three days of negotiations on financing for the city’s light rail project, according to Globes. The parties are seeking to resolve disputes that have delayed the financial closing for the railway and put the project two years behind schedule. The sides agreed to meet again in 14 days.

"There's a limit to how much the government is willing to go toward the franchisee. We've reached a deal on the safety net, but the interest rate that MTS is currently demanding is too high. In view of the improving financial situation in the markets, there's no reason for the government to bear such an interest rate,” said a government source close to the talks. An MTS source said, "There has been progress in the negotiations, but the Ministry of Finance must grasp that there was a severe financial crisis. Governments are now providing 100% safety nets for infrastructure projects. It will be very hard to obtain financing for the project at the terms that the government is demanding."