Governor Kay Ivey and State Treasurer Young Boozer recently announced that the state would increase its investment into Israeli bond holdings as the country is currently embroiled in conflict.
Israel has been involved in a violent conflict in the region after the Palestinian militant group Hamas attacked Israel on October 7.
"Alabama unapologetically and unequivocally stands with our friend and ally Israel," Ivey said. "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."
I am proud to announce Alabama is increasing our investment in Israel bond holdings.— Governor Kay Ivey (@GovernorKayIvey) October 20, 2023
Alabama unapologetically and unequivocally stands with our friend and ally Israel.
To read more: https://t.co/uPULobxmZL #alpolitics pic.twitter.com/ycqnw3MDvg
Ivey's office reported that Israel would issue new bonds soon, and Alabama would be among the first institutional buyers of the bonds when they are made available. The release from Ivey's office did not state the amount the state would be investing, and Boozer's office could not immediately be reached for comment.
"We believe in Israel's ability to weather storms and emerge stronger, just as it has in the past," Boozer said in a statement. "Investing in Israel Bonds is a testament to our longstanding belief in Israel's resilience and the value it brings to the global economy."
Auburn head basketball coach Bruce Pearl praised the decision, saying it affirmed Israel's "right to exist."
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