Coronavirus: Netanyahu Urged to Help Israel's Diamond Industry
July 13, 20
(IDEX Online) - The president of the Israel Diamond Exchange has made an impassioned plea for the government to help an industry that has lost $600m to COVID-19.
"We are turning to you with an urgent request to help the diamond industry, which is on the brink of collapse as a result of the coronavirus," says Yoram Dvash (pictured) in a personal letter to President Benjamin Netanyahu.
He says 15,000 families who rely directly or indirectly on diamonds in Israel have been affected by a decline in exports estimated at 80 per cent between March and May.
Many workers have already lost their jobs and many companies may relocate to other countries he warns.
Mr Dvash, who is also acting president of the World Federation of Diamond Bourses, calls on the government to guarantee bank lines of credit, provide grants to business and help promote the industry.
He says steps taken so far by the government have done little to protect one of Israel's oldest and most important export industries.
Israel was initially among the world's most successful countries at tackling COVID-19, but since relaxing a nationwide lockdown infection rates have reached record high levels.