BREAKING NEWS

KKL-JNF agrees to cover NIS 1 billion in state projects

OCTOBER 5, 2014 16:02

The Jewish National Fund (KKL-JNF) agreed in principle Sunday to carry out NIS 1 billion worth of government projects in 2015, in exchange for the government dropping legislation that would squeeze the organization for royalties on natural resources.

Last week, the Finance Ministry included the NIS 1 billion from KKL as part of its budget plan, using it to reduce its inflated expenditure plan and bring the budget to its 3.4% deficit target.

AT the time, KKL-JNF blasted the government for attempting "to nationalize private resources and companies through coercion."

Though the details of the deal were not finalized in the meeting, the basic principles for moving forward were agreed.

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