Knesset approves loan for ailing IMI

15.11.2012                      01.Kislew. 5773                       Rosch Chodesch

Wirtschaft:

Knesset approves loan for ailing IMI

The Knesset Finance Committee approved a new NIS 74 million loan to the Israel Military Industries to pay workers' salaries.

The government has been paying the wages for the past year since the company ran into serious financial trouble. IMI asked for a NIS 135 million loan to pay for wages and raw materials to continue production, and the committee will vote on whether to approve the remaining amount next week….