Israeli sovereign wealth fund launches after years of delay

bank-of-israel4
The Bank of Israel
David Vaaknin

Israel’s sovereign wealth fund began operations on June 1, eight years after being established as a repository for natural gas and mining revenues.

The 2014 law creating the Israeli Citizens’ Fund (ICF) provided that it would open once revenues from offshore natural gas fields and mining activities reached 1 billion shekels. The Israel Tax Authority informed the government that 1.14 billion shekels ($341.6 million) in net revenue were collected as of May, permitting the fund to open on the

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