141 exporting companies have been notified of their winning funding and assistance

In recent days, one hundred and forty-one exporting companies have been notified of their winning funding and assistance in increasing the export activity of international markets, as part of the first phase of the 2020 end of the Foreign Trade Administration - Ministry of Economy and Industry, which closes at the end of July. The assistance, amounting to NIS 50 million, will help Israeli companies from a variety of sectors work directly with international markets, enlist the help of local factors and establish marketing systems implemented in a remote operating model. The winning companies will operate under smart money programs Internationally in a wide range of target markets. Among other things, applications for funding for marketing activities in the UAE were also approved.
The Ministry of Economy's Foreign Trade Administration notes that out of about 400 aid applications submitted in the first allocation of 2020, about 200 applications have been examined so far. Additional applications for support, which were submitted later as part of the first allotment, will be examined by the end of November and therefore - the ministry estimates - the list of first allotment winners will expand in the coming weeks. Among the Israeli companies that have already been notified of their winnings, there are over 20 companies owned by minority populations, which receive increased support of 75% of the expenses that qualify for government support.
The head of the Foreign Trade Administration, Ohad Cohen: "Aid programs such as 'Smart Money' and 'Shalav' were not born to provide a solution to the Corona's challenges, but to help exporters diversify their export mix. However, we are pleased to be able to make use of existing tools to help exporters meet the challenges of the moment and expand their marketing and exposure arrays in target markets around the world. The Ministry of Economy's Economic Attachments System around the world is a complementary force and helps companies open a door to marketers, distributors and customers. In this way, we provide a comprehensive envelope that provides an important response to the needs of the industry. "