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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Trends

Israel: Gas fund won’t aid defense spending

Posted on 25 October 2012

The sovereign wealth fund that will control the government’s proceeds from Israel’s natural gas reserves will not be used to help defray the cost of protecting the gas installations, a government panel decided Tuesday.
In doing so, the ministerial legislative committee rejected a proposal by the Defense Ministry to include national security among the national projects that can be funded by the projected sovereign wealth fund. The navy had estimated the cost of protecting Israel’s offshore gas installations at NIS 3 billion annually………………………………………..Full Article: Source


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