BREAKING NEWS

Gov't decides to extend credit for investments with Greece

SEPTEMBER 15, 2011 17:59

As part of Israel's rapidly developing ties with Greece, the government foreign credit agency on Thursday, in accordance with Prime Minister Binyamin Netanyahu's directives, decided to extend an enlarged line of credit for investments and transactions with Greece.

Under the plan, the government will essentially guarantee up to $100 million worth of business for Israeli firms investing or trading with Greece. The idea, according to government officials, is to support growing economic relations with Greece.

The move, at a time when Greece is going through dire economic straits, comes some two months after Greece acted strongly to prevent Gaza-bound vessels from departing its ports.

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