Billionaire businessman Arkadi Gaydamak has promised to come to the rescue of the financially-stricken Beit Hagefen Arab-Jewish Center in Haifa, reports Yediot Haifa. Gaydamak has reportedly offered to bail out the historic center to the tune of $500,000, and is currently putting together a rescue plan to enable it to function into the future. According to the report, the 45-year-old center recently began running into financial difficulties after cuts were made to its funding, and it currently has a deficit of NIS 1.5 million. The landmark center is known for the numerous activities it runs jointly for Arabs and Jews, and Gaydamak offered to rescue it. Center managers reportedly have been concerned in recent weeks that Gaydamak may renege on his promise, but a spokesman for his office said the businessman was merely studying the best way to plan the rescue.