Israel reached compromise with the EU over a funding ban through discussions between Justice Minister Tzipi Livni and the EU's foreign policy chief Catherine Ashton.
The agreement eased a four-month diplomatic row between EU and Israel after the union began to impose last July a funding ban on Israeli institutions operating in the West Bank and East Jerusalem over Israel's expansion policy of the Jewish settlements in territories occupied by Israel since the 1967 Mideast war.
"The agreement fully respects the EU's legal and financial requirements while at the same time respecting Israel's political sensitivities and preserving its principled positions," a joint statement said.
Israel now could benefit from the EU funds for "Horizon 2020" program for which over 70 billion euros were budgeted.
Running from 2014 to 2020, the EU’s new program for research and innovation is part of the drive to create new growth and jobs in Europe, which in this case will allow Israel's scientific community to benefit from EU programs to facilitate its further integration into the European space of research and innovation.
