Israel Approves Emergency Funds, Diverts Intel Project Money for Weapons

On August 9, the Israeli government approved an emergency funding plan that diverts money originally earmarked for Intel Corporation to add 1 billion new shekels to the defense budget for urgent weapons purchases. The proposal was described as a particularly urgent transfer of funds, made on the basis of the current state of emergency in Israel.

The decision had already been approved on August 6 by the ministerial committee responsible for government procurement. The additional budget will not breach the existing national budget framework.