Pennsylvania Treasurer Stacy Garrity speaking at a past press conference. (Credit: LevittownNow)
The new bonds are expected to yield a 4.96 percent return for the state, approximately 100 basis points more than comparable U.S. Treasury Bonds
The Pennsylvania Treasury Department invested an additional $25 million in Israel Bonds last week, just one day before Israel’s surprise attack on Iran’s capital.
The additional $25 million investment of state funds brings Pennsylvania’s total amount of money in Israel Bonds to $64.5 million.
The latest investment, which was announced this week by Republican Treasurer Stacy Garrity, and follows a $20 million investment made after the Oct. 7, 2023, attacks.
“Israel is our greatest ally in the Middle East, and I will continue to stand by them in their fight to achieve peace,” Garrity said. “Israel bonds are a smart, dependable investment with a proven track record – and it’s especially important to show our support at a time when Israelis and Jews — both abroad and here in the United States — continue to face horrific acts of antisemitism. I’m proud to announce this significant new investment, continuing the strong relationship between Pennsylvania, Israel, and the Jewish Community.”
The new bonds are expected to yield a 4.96 percent return for the state, approximately 100 basis points more than comparable U.S. Treasury Bonds.
State Treasury officials noted that Pennsylvania has invested in Israel bonds for more than 30 years.
The bonds were purchased through the Development Corporation for Israel, which is also known as Israel Bonds.
Dani Naveh, global president and CEO of Israel Bonds, expressed gratitude for the continued investment in state taxpayer funds.
“We are grateful to State Treasurer Stacy Garrity and Pennsylvania for their continued confidence in Israel Bonds,” said Naveh. “This powerful investment affirms our shared values. We are proud to stand together in building a secure and prosperous future for both Israel and the United States.”
The Pennsylvania Treasury Department manages over $170 billion in state funds, responsible for receiving, depositing, and investing state monies, as well as overseeing all withdrawals and deposits from state agencies.
