On Friday, Governor Kay Ivey and State Treasurer Young Boozer announced the Alabama Treasurer’s Office plans to increase its investments in Israeli treasury bonds to support Israel.
“Alabama unapologetically and unequivocally stands with our friend and ally Israel,” said Governor Ivey. “I am proud our state will increase our investment in Israeli bonds as they rightfully defend themselves and fight for their people. The state of Alabama was the first state to recognize Israel as a nation, and we will always support them as one of our closest and strongest allies.”
The Israeli government will be issuing new bonds to help fund its war against Hamas and Hezbollah. Ivey and Boozer announced that Alabama has been placed at the forefront of the list of institutional buyers. As soon as these bonds are accessible, the State Treasurer’s Office is committed to increasing its holdings in Israeli bonds.
“We believe in Israel’s ability to weather storms and emerge stronger, just as it has in the past,” said Treasurer Boozer. “Investing in Israel Bonds is a testament to our longstanding belief in Israel’s resilience and the value it brings to the global economy.”
Boozer said that despite any challenges or crises, Israel has always demonstrated remarkable resilience and innovation. Alabama’s goal in investing in Israeli bond holdings is to support Israel’s ongoing efforts, economy, and future growth, especially in this time of war.
The State Treasurer’s Office has invested in Israel bonds since 2016, during Boozer’s previous tenure as State Treasurer.
Boozer was Treasurer from 2011 to 2019, then Alabama’s term limit law prevented him from serving a third consecutive term. John McMillan was elected Treasurer in 2018 but resigned from the position in 2021 to be the Director of the Alabama Medical Cannabis Commission. Gov. Ivey then appointed Boozer to finish McMillan’s term as Treasurer. He was then elected in his own right in 2022.
On October 7, Hamas forces invaded Israel by air, land, and sea from the Gaza Strip, inflicting tremendous loss of life on the Israeli people and leading the Israeli government to declare war on Hamas. Israeli forces are expected to enter Gaza in force in the coming days.
Alabama’s leaders, including Ivey, have since declared their anger at the attacks and their continued support for the Israeli state.
Gaza is a 140-square-mile area that used to be attached to Egypt. The Israelis took it during the 1967 war with the Arabs in Israel. It was an occupied territory by the Israelis from then to 2005. The Israelis withdrew their soldiers and settlements in 2005 in a failed land-for-peace deal. In 2007, the terrorist group Hamas overthrew the Palestinian Authority there, declaring their commitment to the destruction of the Jewish state – resulting in the current situation.
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