Israeli money
Israeli moneyiStock

The National Insurance Institute on Sunday will transfer 1.4 billion shekels to Israeli families with children.

The grant, initiated as part of the government's response to the coronavirus outbreak, will provide 1.2 million families with 2.8 million children with extra funds during the Passover holiday.

Families will receive 500 NIS per child, for the first four children up to age 18. The maximum grant per family is 2,000 NIS.

Babies born during the month of April will also be eligible for the grant. At the end of April, the National Insurance Institute will collect the updated data and transfer the appropriate funds to the families.

The grant is automatic and will be transferred to the bank account to which the monthly child stipend is transferred.

Meir Spiegler, Director-General of the National Insurance Institute, said: "Especially during the holiday of Passover, the National Insurance Institute, which is a social support for the residents of the State, identifies with the struggles they are facing at this time. We are working around the clock to transfer the various grants to families, senior citizens, disabled IDF veterans, those with disabilities, and others."

"Despite the fact that the legislation passed just prior to the start of the holiday, the goal was to transfer money to the bank accounts, with the grant for children, during the intermediate days of the holiday, and that is what will happen."