State grants exporters NIS 110m. package

Other assistance measures include advice on hedging foreign currency risks for small- and medium-sized exporters.

Finance Minister Ronnie Bar-On and Industry, Trade and Labor Minister Eli Yishai reached an agreement at the end of last week to budget an additional NIS 110 million over two years to assist exporters faced with the sharp plunge of the dollar and a slowing US economy. The government will boost the funds for assisting individual exporters to NIS 500m. in state-guaranteed loans on special terms. Other assistance measures include advice on hedging foreign currency risks for small- and medium-sized exporters. Seminars and training will be established for small exporters on global marketing and commerce strategies.