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The American bank Citigroup plans to open a technology research and development center in Israel to support its global activities.
The bank plans to open the center in December this year, becoming the second international bank after Barclay's Capital to do so.
Israel's government granted the Citigroup approximately $25 million over a five year period to help finance the center.
Last year Israel launched a project to try and attract financial services and firms to the country.
