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The Right’s New Bank – Jewish National Fund

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A few years ago, a strange thing happened. The rotten organization called KKL-Jewish National Fund agreed, under massive public pressure, to address criticism from the state comptroller.

But this welcome turn of events was soon thwarted by Ministers Yariv Levin and Ze’ev Elkin, the ideological right wing of the Likud. And for good reason: Though it took them decades to realize it, the right finally figured out that it had a handy bank that was flush with cash, devoid of restraints and practically free of outside oversight: KKL-JNF. Why not use this bank for things the government would never agree to fund?

In May 2018, the ambitious secret project got underway. In the KKL-JNF budget, 250 million shekels ($71.4 million) was allocated for the purchase of land. No one knew that the money which was allotted to the agency’s Jerusalem district was being diverted to the territories.

Through a subsidiary, Himnuta Jerusalem, which is registered in the territories, KKL-JNF began a wild and unprecedented purchasing spree that included six or seven deals for 100 million shekels. The contractor was Oved Arad of the Regavim movement (from which MK Bezalel Smotrich also........

© Haaretz