Israel To Set Up $80 Billion Sovereign Wealth Fund
Israel will begin using revenues from its newly-found natural gas fields to establish a sovereign wealth fund, said the Israeli Prime Minister’s office on Sunday during a draft law presented to the cabinet.
The fund is expected to have at least $80 billion under its management by 2040, and will be tasked to protect the country’s financial stability during times of national emergency, as well as to provide a stable income stream for government-approved education and defence projects.