Finance C'tee approves 2b. NIS guarantees to IEC

By JPOST.COM STAFF
December 18, 2012 14:33

 
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The Knesset Finance Committee on Tuesday approved a 2 billion loan guarantee to the Israel Electric Corporation (IEC) in order to prevent a rise in electricity prices.

Finance Ministry Director General Doron Cohen saod the gas crisis had worsened the financial status of the ‪IEC, and that the guarantees would allow it to raise additional funds before the end of the year.

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