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PORTS
With Israel’s commercial seaports (principally those at Haifa and Ashdod, but also the Eilat Port) handling 98 percent of Israel’s import and export cargos, their safety and smooth functioning have enormous and growing economic importance. By the end of the next decade, annual cargo traffic is expected to more than double, reaching 65 million tons.
Israel’s efforts to provide the necessary infrastructure began almost a decade ago, with the creation of a 10-year plan. Within this framework, the $900 million Eitan Project at Ashdod added four deepwater quays to the existing 14, built 5,100 feet of operational quay, extended the main breakwater by 3,450 feet and built a new terminal. This has been one of the largest infrastructure projects ever undertaken in Israel, culminating in the country’s first fully computerized container port.
At Haifa Port, a $300 million Carmel Terminal is being built with a 2,100-foot quay, together with supporting stacking areas and a new gate. It is scheduled to open in 2007.
The development of Israel’s ports was among the very first projects facilitated with Israel Bonds funding, and the Bonds organization continues to fund port expansion.
The Israel Ports Development and Assets Commission (IPC) is currently preparing a 50-year development master plan. The IPC announced $150 million will be invested in ports infrastructure in 2007, with most of the sum going towards the Eitan and Carmel Terminals. According to IPC Director-General Shlomo Brayman, $1.9 billion will be invested in port development projects over the next decade.
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Israel and Israel Bonds:
Combating Poverty via Economic Opportunity
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The statistics are startling: over 1.6 million Israelis - one in four - live below the poverty lineThis encompasses over 400,000 families, including 775,000 children - more than 35 percent of all Israeli children
These unacceptable numbers have placed the eradication of poverty among Israel’s top domestic priorities.
On April 18, 2007, Israel’s government announced a sweeping socio-economic agenda. The goal: “to reduce inequality in Israel by promoting growth and employment".
Israel Bonds will assume an essential role in this far-reaching plan by providing funding for key infrastructure projects specifically designed to fuel the economy. They include:
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Through resourceful and ambitious development, aided by Israel Bonds support, thousands of jobs can be
generated that will uplift less fortunate members of Israeli society.The creation of new jobs will sustain the
economic momentum necessary to eliminate one of Israel's most pressing social issues.
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