LOS ANGELES — Continuing its longstanding efforts to help reform the Israeli economy, the Milken Institute is co-sponsoring two important conferences in that country this week.
The first, "Privatization in Local Government: Models and Lessons," June 13-14 in the City of Ashkelon, focuses on efforts to privatize the Israeli economy.
The second, "Private/Public Partnership Strategies for Urban Economic Development," June 14 at Tel-Aviv University, looks at new financial innovations and technologies that can be applied to urban development problems in Israel.
Glenn Yago, Director of Capital Studies at the Milken Institute, who has spearheaded the Institute′s efforts in the Middle East, says these two conferences show that, despite the ongoing violence in that part of the world, serious work on improving the Israeli economy continues.
"Israel and its neighbors need strong economic foundations if they are to build stable societies," said Yago. "These conferences continue the valuable discussions we′ve been having with Israeli leaders on how to create more efficient capital-market mechanisms to meet the goals of urban development."
The most recent development in these ongoing talks is the Habima Parking Structure Project, an underground garage that will be built in Tel Aviv without a cent of government money. It will be paid for through the issuance of municipal bonds — a revolutionary idea in Israel.
The Ashkelon conference, to be held at the Holiday Inn, will look at successful privatization efforts in that and other Israeli municipalities. Heads of local authorities from around the country will look at such things as transferring government services to private contractors, joint public-private initiatives and municipal companies.
The discussions will deal with the privatization of urban services such as trash removal and street lighting; joint initiatives such as water and sewage plants; and the development of neighborhoods, industrial parks and other areas by municipal companies in cooperation with private companies. As part of this effort, Yago will present a review of municipal financing models.
The event is sponsored by the Jerusalem Center for Public Affairs in conjunction with The Milken Institute, the Koret Foundation and the City of Ashkelon.
The Tel Aviv conference will focus on urban revitalization projects in South Tel Aviv, and how to use the latest financial innovations to pay for them. Included in the program will be a discussion of rebuilding Arab and Jewish businesses and communities in Jaffa, and other innovative ideas about community economic development.
Yago will discuss Genesis L.A., a project aimed at transforming blighted properties in the most disadvantaged communities of Los Angeles, that some see as a model for helping Tel Aviv′s poorer neighborhoods.
The Tel Aviv event includes the participation of business students from the University of Tel Aviv, who have been working on some of the innovations that will be discussed at the conference.
The event is sponsored by the Milken Institute, Tel Aviv University, the Municipality of Tel Aviv/Jaffa, and the Los Angeles-Tel Aviv Partnership.
For further information about the June 13-14 Ashkelon conference, please contact Chaya Herskovic of the Jerusalem Center in Israel at 972-2-561-9281.
For further information about the June 14 Tel Aviv conference, please contact Niv Ahituv in Israel at 972-3-640-8932.