Israel is launching a $50 million fund for the country's Arab development, with private Arab and Jewish businessmen underwriting most of it, Minority Affairs Minister Avishay Braverman told Israel Radio on Tuesday.
The government will also contribute funds to the initiative.
"The economic potential of Israel in the Arab population is enormous," Braverman told the radio station.
Jafar Farah of the Arab advocacy organization Mossawa Center welcomed the investment, but pointed to inequalities in public transportation, schools and roads in Arab Israeli areas. Farah said "the private sector is important, but it's not enough."