Pursuant to remarks by Prime Minister Binyamin Netanyahu at Sunday morning's cabinet meeting, the Treasury is launching a special track in the State Guarantee Fund to provide up to four billion shekels in loans to small and medium-sized businesses to deal with the effects of the corona virus.
The launch was ordered after a meeting between Finance Minister Moshe Kahlon and directors of his ministry, the Bank of Israel, the Tax Authority and the Securities Authority to examine the Israeli economy's deal with the outbreak of the Corona virus. Within the designated track, banks will be able to provide the loans in installments within 9 working days. Half of the fund will be possible immediately. Additional assistance will be provided as required, subject to the approval of the Knesset Finance Committee.