Benjamin Ben-Eliezer, Israel’s Minister of Industry, Trade and Labor, met with leaders of the Israeli Diamond Industry to discuss extending financial support for a professional training program for diamond polishers. The program is an attempt to rejuvenate the local diamond industry, which is facing difficult times due to economic hardship.

Israel Diamond Exchange President Avi Paz thanked Minister Ben-Eliezer: “This is the first step in a package of aid that is needed urgently by the Israeli Diamond Industry. Our highest priority is to receive government backed credit. We see that the governments of India and Belgium have aided their industries with billions of dollars of credit with government guarantees. It is important for Israel to maintain its leading position in the world and for that government aid is essential.”

Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI) and President of the Israel Diamond Manufacturers Association (IsDMA), says: “We view the training of “Excellent” diamond polishers as of great importance. This program will expand the know-how and capabilities of the industry and will increase the export of Israeli diamonds, which are known for their high quality.”

Israel currently has a lack of “Excellent” level diamond polishers and this new program hopes to rectify the situation and help accelerate the local diamond production by hundreds of millions of dollars.

The initiative, scheduled for 2009-2010, will train 100 unemployed polishers to reach “excellent” levels of diamond polishing. After successful training, they would work for local manufacturers.

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