NIS 160m. to be raised to help new Arab businesses

Israel will set up a NIS 160 million private equity fund to help develop the businesses of the country's Arab community over the next decade
 
Raanan Dinur, director-general of Prime Minister office, said last week that Israel had finalized plans to set up a NIS 160 million private equity fund to help develop the businesses of the country's Arab community over the next decade. Arabs comprise about 19% of the population of Israel.
 
According to Dinur companies owned by Israeli Arabs will be eligible to apply to the fund for as much as NIS 4m, enabling as many as 80 enterprises to receive money over the next 10 years.
 
The Israeli government will, according to Dinur, solicit bids to operate the fund from various financial institutes & private firms, which must pledge to raise at least 80 million shekels from private investors.