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Post: Media writes that a third of Israel’s high-tech startups are linked to the SVB


Israeli flag - RIA Novosti, 1920, 13.03.2023
Israeli flag. archive photo

Calcalist: One-third of Israel’s high-tech startups were linked to bankrupt SVB

TEL AVIV, MAR 13 – RIA Novosti. According to the Israeli financial portal, at least one-third of Israeli high-tech companies are linked by deposits or loans with the bankrupt US bank SVB. calcalistHe cites a committee set up by the Israeli Ministry of Finance to study the effects of the crisis.

The committee, which includes Israeli Finance Ministry CEO Shlomi Heisler, chief economist Shira Greenberg, and representatives from the Bank of Israel, held its first meeting last Sunday and plans to meet again on Tuesday, according to the publication. Committee members are expected to know more about the course of the crisis by then.

People pass by the Silicon Valley Bank headquarters in Santa Clara, California

The expert suggested how the collapse of the SVB will affect Russian enterprises

Calcalist writes that two possible scenarios were discussed at the meeting, the first being the sale of the SVB to a larger bank and the second and more problematic scenario being the liquidation of the bank.

Meanwhile, according to Israeli TV channel i24NEWS, the collapse of SVB has already caused panic in the country’s high-tech industry, with investors, CFOs and high-tech executives claiming they are having trouble attracting funds from the Bank of Silicon Valley (SVB).

Earlier on Saturday, Israeli Prime Minister Benjamin Netanyahu promised that the government would support Israeli high-tech companies.

People near the coast of Silicon Valley in Santa Clara, California - RIA Novosti, 1920, 11/03/2023

Silicon Valley Bank collapse: American economy plays Russian roulette

Source: Ria

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