Israel is set to renew its financial management portfolio and the financial market portfolio.
According to a statement from the Ministry of Finance, this will be done through the extension of the Financial Market Management Fund (FMMF), which is set up in 2013, and the extension to the Financial and Investment Management Fund.
The FMMF will continue to receive financial support through the Israeli Export-Import Bank.FMMF will also receive the support of the Bank for International Settlements (BIS), the agency responsible for providing financial support to Israel and international organizations.
As for the investment portfolio, the Ministry said that it will continue the investment management activities of the Investment Company for Israel, which is owned by the government.FMF and Investment Company have a long-term relationship.
In 2012, the Investment Corporation was established to manage investment portfolios for the government, which includes funds for the national economy and for the construction of infrastructure.
The PMMF was also set up to oversee the development of financial institutions and to invest in the construction sector.
In addition, the Finance Ministry said the FMMF has provided financial support for the Ministry’s national infrastructure plan.
The Finance Ministry announced in December that the PMMF had been extended until March 2020.