Bank Leumi Chairman David Brodet
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Decline expected in donations to Israel
Bank Leumi Chairman David Brodet believes philanthropic activities about to be affected by global economic crisis
The Israeli world of philanthropy is about to be affected by the global economic reality, Bank Leumi Chairman David Brodet believes.
"I expect a regression in the volume of donations flowing into Israel from abroad, which totals some NIS 15 billion (about $4 billion) a year," Brodet said recently during a Jerusalem conference attended by 200 managers of social organizations and senior banking and public sector officials.
"The associations must manage their activity in a much stricter way," he added.
The conference focused on improving the efficiency of financial management on the backdrop of the global financial crises that are threatening the Israeli economy.
