Prime Minister Benjamin Netanyahu said on Sunday his government would establish a 4 billion shekel ($1.2 billion) fund to help Israeli companies impacted by the global coronavirus outbreak.
Netanyahu said Finance Minister Moshe Kahlon had drawn up plans for the fund and would present them at Sunday's cabinet meeting. No further details were immediately available.
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Also on Sunday, El Al Israel Airlines said it expects an even bigger decline in revenue for the start of the year than previously thought due to the coronavirus. The airline has requested government aid.
Israel's central bank said last week the coronavirus outbreak has not had a major impact on the economy, but if conditions worsen significantly, it is prepared to use monetary policies accordingly.
Eight more Israelis contracted the virus over the weekend, bringing the total number to 25, as Netanyahu declared it the worst pandemic in 100 years.
The Health Ministry reported that patients 17 through 25 are in quarantine and in stable condition.
COVID-19, the disease caused by the novel coronavirus, hit a milestone Friday, infecting more than 100,000 people worldwide. It has killed nearly 3,400 people.
Netanyahu said Israel was "acting on both the national and international levels" and that in the past 48 hours he had spoken with world leaders and initiated a conference call with other countries that will be held next week to see how world leaders can help each other.
"First of all, this is a global pandemic, whether the CDC (Center for Disease Control and Prevention) calls it such or not. It is a matter of days or hours. It is doubtful whether there has been a similar pandemic in the last 100 years. It seems that the rate of infection is greater than we figured."
He went on: "The assumption that the virus will disappear or evaporate in hot weather is unproven. At the moment, this has no basis that we can build on. The virus is currently spreading to Africa. There is no vaccine and anti-viral drugs are ineffective. Economies are starting to be hurt. Governments are ordering their gates closed. This is important for the supply of products for all economies. Nobody knows how the pandemic will end."
The prime minister said that the virus did not seem to infect youth and children.
He rolled out a five-part plan for attacking coronavirus in Israel.
First, all public installations will undergo disinfection, the prime minister said.
"This virus is sensitive to bleach and we must act in an orderly way to disinfect railway stations, bus stations, etc.," he said. "To this end, over the vacation period, which may be extended, I will mobilize young people, both in schools and in youth movements, in a very meticulous way, to help with the disinfection. I will also ask the IDF to take care of certain installations."
Next, he said the air force may be used to ensure Israel has all essential supplies. Third, he said, he is working on opening a line of credit to provide a response for businesses and companies under pressure.
"Fourth, we will mobilize the best minds in Israel in order to develop a broad test in order to ensure an industrial testing ability that will separate between ill and healthy people."
Finally, Netanyahu said Israel was likely better off than any other country and that he would push for intensified international cooperation. He said Israel will use its ties with leaders in certain countries: "We will help them and they will help us," he said. "With God's help, we will overcome the crisis together."
Meanwhile, some 1,262 soldiers are currently in 14-day home quarantine over suspicions of having contracted COVID-19, the army reported on Friday.
Some 189 soldiers returned to their units after completing the mandatory two weeks of self-isolation.
According to the IDF, most of the soldiers currently under quarantine returned from vacation overseas, while some were in the country and came into contact with confirmed carriers of the virus.
The Palestinian Authority Health Ministry said 19 Palestinians have been infected with the virus, most likely via interaction with a group of Greek pilgrims who visited Bethlehem and neighboring Beit Jala. The city is on lockdown and the PA is reportedly working with Israel to contain the virus.
