Israeli Government approves Real Estate-rescue package

According to an aticle at jpost.com, two Goverment ministries approved a multi-million shekel rescue plan, which will guarantee 10 percent of the credit needed for contractors to build residential housing projects and ease bureaucratic processes for building permits to boost construction and avoid a shortage in apartments.  The economic and financial crisis has caused banks to raise equity requirements for contractors in order to get their financing for building apartment projects. 

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