The State of Alabama plans to increase its investment in Israeli bonds, according to State Treasurer Young Boozer.
Boozer told 1819 News on Monday his office planned to purchase $6 million worth of two-year notes from the state of Israel on Wednesday. The State Treasury already holds $4 million in Israeli bonds.
“The way they do it is they issue on the first and the 15th of every month so we have subscribed to be in the group for this Wednesday, November 1," Boozer said. "We’ve done this with them before."
Boozer said his first investment in Israeli bonds was in 2016.
"We believe in Israel's ability to weather storms and emerge stronger, just as it has in the past," Boozer said in a statement last week. "Investing in Israel Bonds is a testament to our longstanding belief in Israel's resilience and the value it brings to the global economy."
Israel has been involved in a violent conflict in the region after the Palestinian militant group Hamas attacked on October 7.
"Alabama unapologetically and unequivocally stands with our friend and ally Israel," Gov. Kay Ivey said in a statement last week. "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."
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