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Europe

Ireland Divests Millions of Euros in Investment from Six Israeli Companies

Thousands of people gathered carrying Palestinian flags and banners to hold a demonstration supporting Palestinians in Dublin, Ireland on April 7, 2024 (Photo: Anadolu Agency)

Dublin, MINA – The Irish National Treasury Management Agency (NTMA) confirmed that it decided to divest almost 3 million euros from its global equity portfolio in the Irish Strategic Investment Fund (ISIF).

“NTMA confirmed that it has taken the decision to withdraw around 3 billion euros (3.8 billion US dollars or the equivalent of Rp. 60 trillion) from its global share portfolio in ISIF,” according to British news agency PA Media, according to Anadolu Agency on Sunday.

The divestment decision concerns share ownership with a total value of 2.95 million euros in six Israeli companies.

The six Israeli companies are Bank Hapoalim BM, Bank Leumi-le Israel BM, Israeli Discount Bank, Mizrahi Tefahot Bank Ltd, First International Bank, and Rami Levi CN Stores.

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Irish Finance Minister Michael McGrath said this was “the right decision”.

Logically, Michael McGrath said, divestment refers to Israel’s economic condition which no longer shows adequate profitability.

“ISIF has determined that the risk profile of this investment is no longer within its investment parameters and that the commercial objectives of this investment can be achieved through other investments,” he said.

McGrath continued: “The decision will be implemented as soon as possible in the coming weeks.”

Israeli Foreign Ministry spokesman Lior Haiat claimed that a commitment to recognize a Palestinian state would only make it more difficult to reach a solution and increase regional instability, Khaberni reported.

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Meanwhile, Spain announced last Friday that it, together with Ireland, Malta and Slovenia, agreed to take initial steps towards recognizing the Palestinian-declared state in the occupied West Bank and Gaza Strip.

Responding to this, Israeli Foreign Minister Israel Katz emphasized that a solution to end the war could only be achieved through direct negotiations between the parties involved.

Katz also emphasized that any commitment to recognizing a Palestinian state would only further complicate the situation and contribute to increased instability in the world. (T/RE1/P2)

Mi’raj News Agency (MINA)

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