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Israel launches 29-mln-USD support plan for SMEs amid COVID-19 crisis

Israel Materials 28 February 2021 22:17
Israel launches 29-mln-USD support plan for SMEs amid COVID-19 crisis

Israel has launched a program aimed to help small and medium-sized businesses adapt to the COVID-19 crisis, the Ministry of Economy and Industry said Sunday, Trend reports citing Xinhua.

This should help businesses adapt to the COVID-19 restrictions and prepare for a possible fourth full lockdown in the country.

The program amounts to 95 million new shekels (29 million U.S. dollars) and is intended to help businesses increase online activity.

It includes, among other things, grants to upgrade the business's communications infrastructure to fiber optics, which allow a quick and efficient transfer of large amount of data.

"The shift to remote work by most of the Israeli economy during the crisis has led to an increase in household internet consumption, causing network congestions and malfunctions in internet infrastructure", the ministry explained.

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