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Tuesday, November 28, 2023
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Florida bond buy helps Israeli war effort

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The state of Florida will purchase more than $20 million in Israeli bonds to help boost that country’s economy during its war effort in Gaza. According to Florida’s Chief Financial Officer (CFO), Jimmy Patronis, the bond purchase brings Florida’s total investment in Israel bonds to $80 million, the highest amount the State of Florida has ever held at one time.

“We made a commitment to support Israel both morally and monetarily, and that’s why I’m proud to announce that Florida will invest an additional $25 million in Israel bonds to further support our ally in the Middle East,” he said. “This historic investment increases our state’s Israel bond portfolio, not only provides Florida with a strong investment but also further fortifies Florida’s commitment to stand with and support Israel.”

Including the new buy, since 2017, the Florida Treasury has purchased $190 million in Israeli bonds to diversify the state’s investment portfolio as part of a long-range investment strategy. Florida has realized approximately $6.4 million in interest from those investments.

The bond purchase was announced just one day ahead of Gov. Ron DeSantis’ Oct. 12 Executive Order directing the Florida Division of Emergency Management (DEM) to use its available resources to transport Floridians stranded by the conflict as well as to transport emergency mitigation supplies to Israel.

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Florida is home to large numbers of dual Israeli-American citizens and Floridians with relatives and businesses in Israel.

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