DUBLIN, April 5 (Reuters) - Ireland's 15-billion-euro
sovereign investment fund will divest from six Israeli
companies, including some of its largest banks, over their
activities in the occupied Palestinian territories, Finance
Minister Michael McGrath said on Friday.
The Ireland Strategic Investment Fund (ISIF), which invests
at home to support economic growth but also holds a portfolio of
liquid international assets, has come under pressure from the
main opposition party, Sinn Fein, to divest the assets.
Long a champion of Palestinian rights, Ireland last month
joined Spain, Malta and Slovenia in taking the first steps
toward recognising Palestinian statehood in the West Bank and
the Gaza Strip.
It will sell shareholdings totalling 2.95 million euros
($3.20 million) in Bank Hapoalim BM, Bank Leumi-le
Israel BM, Israel Discount Bank, Mizrahi
Tefahot Bank Ltd, First International Bank
and Rami Levi CN Stores, one of Israel's leading
supermarket chains.
"I have been advised by the National Treasury Management
Agency (NTMA) that it has decided to divest from certain ISIF
global portfolio investments in companies that have certain
activities in the Occupied Palestinian Territory," McGrath said
in a statement.
The decision will be implemented as soon as possible over
the coming weeks, he added.
The world's largest sovereign wealth fund, Norway's $1.6
trillion fund, has over the years divested from nine Israeli
companies over activities in the occupied Palestinian
territories.
Israel captured the West Bank, Gaza and East Jerusalem -
areas of historic Palestine that the Palestinians want for a
state - in 1967, and has since built extensive Jewish
settlements in the West Bank.
The U.N. refers to the territories as occupied, something
Israel disputes, and demands that Israeli forces withdraw.
($1 = 0.9225 euros)