At the last moment, the Israeli government has found a solution that will enable the Eurovision song contest final to go ahead in the country next May. The problem is that the KAN Israel Public Broadcasting Corporation, which is organizing the event, needs to deposit €12 million with the European Broadcasting Authority in guarantees by August 1, if it wants to take up its option to host the event after Netta Barzliai won this year's contest with her song "Toy."
The problem is that by law the newly formed KAN Israel Public Broadcasting Corporation has its annual budget and that any additional money requires special legislation. In total it is estimated that it will cost KAN €35-45 million to stage the Eurovision final in Israel.
Last night it was agreed that KAN will receive a temporary loan, sources inform "Globes," in order to pay the deposit to the European Broadcasting Authority as well as a letter of intent from the government guaranteeing all costs for the event. The loan is being made after consultations between the Ministry of Finance, Ministry of Justice, Ministry of Communications, Prime Minister Benjamin Netanyahu himself, and phone calls to each of the cabinet ministers.
In the coming months new legislation will be enacted so that KAN will be able to receive the full amount required to stage the Eurovision contest in Israel.
KAN declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on July 30, 2018
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