Leading British businessmen arrive to show support for Israeli economy

By Zohar Blumenkrantz
Ha'aretz
May 10, 2002

Several of Britain's leading businessmen, from the Israel-Britain Business Council (IBBC), are to arrive in Israel on Sunday for a two-day visit to show their interest in commercial opportunities and support of the Israeli economy.

The group will be hosted by chairman of the Federation of Israeli Chambers of Commerce, Dan Gillerman, who said the visit had been timed "not despite, but because of the difficult situation in Israel, and [therefore] is a salute and show of solidarity of the heads of the British economy with Israel."

Gillerman said that the visit followed a meeting of the IBBC in London recently, attended by many Israeli members of the association, and addressed by British Prime Minister Tony Blair.

The delegation will be led by Sir Trevor Chinn, British chairman of the IBBC (and chairman of Lex Leasing), and will also include Lord Young (of Young Associates, and former chairman of Cable & Wireless), Sir Victor Blank (chairman of Great Universal Stores catalog company), Sir Richard Greenbury (chairman of Marks & Spencer department store), Lord Levene (of Deutsche Bank and a former Lord Mayor of London), Lord Stone (also of Marks & Spencer), Howard Shore (of the Shore Capital investment firm).

The group has expressed particular interest in pursuing infrastructure projects in Israel using the PFI (private finance initiative) method, in water, transport, energy and technology. The PFI method of financing large infrastructure projects through the enlisting of private companies has been practiced in Britain, covering projects worth a total $40 billion.