The fund will be allotted by the Environmental Protection and the Trade, Labor and Industry ministries to industrial and business sector ventures and to municipalities promoting projects to that effect.
Additionally, the Trade, Labor and Industry Ministry will give NIS 33 million ($8.4 million) in grants to support the development of new energy efficiently technologies.
The funds were originally appropriated as part of a government plan approved in 2010, which saw the formation of an expeditious grant application mechanism in the field of greentech.
The program has so far given out NIS 47 million ($12 million) in various grants.
The program also wishes to foster small and medium-size business development and half of the funds have been earmarked for business that have annual revenue of NIS 50 million ($12.7 million) or under.
Appropriation also favors municipalities that rank on Israel's fifth socioeconomic level and under.
About NIS 5 million ($1.3 million) will be allotted to transportation projects that promote low emissions.