Finance Minister Michael McGrath says Ireland’s 15-billion-euro ($16.3bn) sovereign investment fund will divest from six Israeli companies, including some of its largest banks, over their activities in the occupied Palestinian territory.

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, Al Jazeera reported. 

Long a champion of Palestinian rights, Ireland last month joined Spain, Malta and Slovenia in taking the first steps towards recognizing Palestinian statehood in the West Bank and the Gaza Strip.