Economy Ministry approves NIS 20m for Gaza envelope towns

Bennett: "We promised to take care of the residents of southern Israel and we are keeping that promise."

November 12, 2014 19:01
Gaza Strip

A resident of Nahal Oz walks next to a concrete wall to protect the local kindergarten, just outside the northern Gaza Strip . (photo credit: REUTERS)

The Economy Ministry’s Investment Center on Wednesday approved NIS 20 million in financial benefits for companies and communities close to the Gaza Strip, who were hardest hit during the summer war with Hamas.

“The administration’s decision is good news for factories in Sderot and the ‘Gaza envelope,’” Investment Center director Nahum Itzkowitz said. “It expresses our deep commitment to help the region’s economy and the production plants’ existence and success.”

Many of the benefits were in the form of “leniencies,” allowing companies within 7 km. of the Gaza Strip hurt financially by the war to delay or postpone a series of financial or procedural obligations to the Investment Center.

Companies that received authorization letters for grants and loans will be able to put a 12-month freeze on the process.

They will be able submit documents and complete the implementation of aid plans later as well.

The Investment Center will hold professional training sessions to help companies in the area utilize the leniencies.

The NIS 20m. cost of the program will be spread out from 2014 to 2016.

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