JNS
Bonds leadership approached Israel’s Finance Ministry, requesting a higher goal to secure additional funding necessary to help Israel offset economic challenges expected due to the coronavirus pandemic.
Despite one of the worst economic years in memory, Israel Bonds managed to sell an unprecedented $1.8 billion in investments worldwide.
The total, of which U.S. sales made up $1.5 billion, represents an increase of $400 million over the original goal. The unprecedented sales brought global Israel-bond investments since 1951 to more than $46 billion.
As the earliest repercussions of the coronavirus outbreak were being felt in Israel last March, Bonds leadership approached Israel’s Finance Ministry, requesting a higher goal to secure the additional funding necessary to help Israel offset the economic challenges that were expected to come.
“The pandemic presented formidable challenges, prompting new approaches to a business model that for 70 years had been predicated on national and regional events, synagogue activities and personal interactions,” says Israel Bonds president and CEO Israel Maimon. “Yet with resolve and an overt sense of purpose, the $1.8 billion total was attained, underscoring the well-established Bonds reputation as a dependable source of funds for Israel.”
Caption: Israel Bonds Way in the gardens of Jerusalem’s King David Hotel.
Credit: Development Corporation for Israel/Israel Bonds.
