Germany and Israel to create fund to promote investment
26. September 2005, Quelle: FOREX
Germany and Israel are considering creating a joint fund to promote investment in research and development in high-tech industries, Israel's deputy prime minister, Ehud Olmert, said on Thursday.
Official letters proposing the creation of the fund will be exchanged between the respective governments next week.
The fund, which could be worth around 10 mln eur a year, would support new companies working in the fields of biotechnology and nanotechnology, Olmert said.
A committee of German and Israeli officials would decide on how the funds would be distributed.
Olmert also called on German companies to take advantage of the Middle East peace process to invest in Israel.
"The economic climate has already changed," he said.