The government will hold its weekly Sunday meeting at the Tower of David Museum of the History of Jerusalem, in honor of Jerusalem Day.
The cabinet is expected to green-light the Marom Development Plan – a perennial plan Prime Minister Benjamin Netanyahu ispromoting with aim of boosting the city's economy.
The plan will see NIS 365 million (approx. $104.8 million) invested in Jerusalem. The Western Wall will also be allotted development funds.
The government stands to invest $41.8 million in boosting Jerusalem's status as a travel destination and $20.5 million in promoting its status as a research, technology and biotech center; as well as to allot $20.25 million for auxiliary financial development.
The plan's overall budget for 2011-2016 stands at NIS 290 million, or $83.3 million.
The Tourism Ministry is expected to allocate an additional $21.5 million for hotel construction in Jerusalem.
The Prime Minister's Office said that "promoting Jerusalem's status in the fields of tourism and biotech will add jobs and attract productive, quality people to the city, as well as increase the number of tourists visiting Jerusalem… and aid in bolstering the city's economy."