Israel rolls out its first measures to assist local businesses as the Tel Aviv Stock Exchange indexes, rattled by the global coronavirus outbreak, fall sharply for the second day running.
The Finance Ministry says it is opening a NIS 4 billion ($1.1 billion) credit line for banks to lend money to small and medium-sized businesses facing a cash crisis with a high-level government guarantee.
"No doubt the fact that the global coronavirus crisis is meeting Israel with a strong economy, low unemployment, a high credit rating and a dropping debt-to-GDP ratio will help us weather the crisis with minimal damage to the economy," says Finance Minister Moshe Kahlon.