BREAKING NEWS

Finance Committee approves deal with KKL-JNF

JANUARY 1, 2018 17:13

The Keren Kayemeth Le’Israel- Jewish National Fund will pay the state NIS 1.8 billion for infrastructure projects over the next three years, including a billion the first year, according to an agreement approved Monday by the Knesset Finance Committee.

The compromise agreement was reached in November by KKL-JNF Director General Amnon Ben Ami and Prime Minister Benjamin Netanyahu’s chief of staff Yoav Horowitz, but Finance Committee chairman Moshe Gafni initially refused to approve it.

Despite demands from the Finance Ministry, the deal will allow KKL-JNF to keep its tax exempt status through the end of 2020 and will not subjugate the organization to the Mandatory Tenders Law.

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