This represents an increase of $100 million over current investments, with the extra funds coming from the doubling of investments by New York employees' pension funds.
"The investments will be made through a special Markston International fund for investments in Israel," Globes reports. Senior New York State Department of Finance officials told Finance Minister Binyamin Netanyahu of the new investment plans during the latter's recent trip to Manhattan.
New York officials said they decided to invest in Israeli "old economy" industries, because they've "seen what happened to high-tech investors who were burned when the bubble burst. We want investments that seem safe to us." Netanyahu said that the decision by New York pension funds and other New York State entities to increase their Israel-based investments "was another sign of the emerging confidence on the part of international investors in the future of Israel's economy."
"The investments will be made through a special Markston International fund for investments in Israel," Globes reports. Senior New York State Department of Finance officials told Finance Minister Binyamin Netanyahu of the new investment plans during the latter's recent trip to Manhattan.
New York officials said they decided to invest in Israeli "old economy" industries, because they've "seen what happened to high-tech investors who were burned when the bubble burst. We want investments that seem safe to us." Netanyahu said that the decision by New York pension funds and other New York State entities to increase their Israel-based investments "was another sign of the emerging confidence on the part of international investors in the future of Israel's economy."