Israel Approves Coronavirus Financial-aid Package For Small-business Owners

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The Israeli government approved a new financial-aid package on Sunday for self-employed businesses that have been struggling due to coronavirus restrictions.

The package presented by Israeli Prime Minister Benjamin Netanyahu and Finance Minister Yisrael Katz provides grants of up to NIS 7,500 ($2,170) to independent contractors and small businesses.

“Last Thursday, I announced together with the Finance Minister an economic safety net for the coming year. Today, we will submit the first step of this plan to the Cabinet. We will declare an immediate advance to the self-employed and controlling shareholders,” said Netanyahu on Sunday at the start of the weekly Cabinet meeting. “This support, this grant, is not dependent on legislation, and we have instructed that it be put into effect today. The button will be pressed, and the money will reach accounts in the coming days.”

Netanyahu added that he would submit additional components of the financial-stimulus plan to the Cabinet on Monday. He insisted that the plan would quickly reach the Knesset and pass through a streamlined legislative process.

“This plan will provide wage-earners, the self-employed and business owners with certainty for the coming year, for the next 12 months, money directly to the account,” said Netanyahu. “We can overcome the coronavirus or at least bring Israel to an economic and health routine that enables us to live in a reasonable manner in the coming year. This is the goal. This is the first step.”




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