Israel Bonds, whose official title is the Development Corporation for Israel, is a vital component in Israel’s economic engine.
The festive ceremony celebrating the conferring of the Presidential Medal of Honor on Israel Bonds was overshadowed on Monday evening by the tragic outcome of a school excursion in the North in which one pupil was killed, and 23 students and teachers were lightly to critically wounded.
President Isaac Herzog, in his address to the International Leadership Delegation of Israel Bonds, said that he could not begin without offering a prayer for the safety of the pupils and the speedy recovery of the wounded.
Israel Bonds, whose official title is the Development Corporation for Israel, is a vital component in Israel’s economic engine,
Over the years, it has invested $58 billion in Israel’s economy – with $1b. invested in the first month following the October 7 catastrophe. Since then, an additional $8.5b. has been raised. The organization keeps breaking its own records.
Harking back to the beginnings of Israel Bonds, in which Herzog’s uncle Abba Eban – then Israel’s ambassador to the United States – played a prominent role, Herzog said that the founders had created the organization with multiple motivations in mind, the first being to generate financial support for the nascent state.
IDF helicopter evacuates wounded victims after unexploded Hezbollah ordnance detonated in northern Israel, October 12, 2026. (credit: IDF SPOKESPERSON’S UNIT)
Israel Bonds sold in US, Canada, Europe, Central America
Israel’s founders saw in post-war America “a nation as generous as its vast landscapes, committed to fighting for freedom, prosperity, and liberty for all. They saw a devoted Jewish community aching to be connected to the redemption of the Land of Israel after 2,000 years of yearning from afar, and they saw an opportunity to deepen the ties of friendship with the American people through these coupons and interest-bearing bonds,” Herzog said, adding that the success of Israel Bonds had exceeded their wildest dreams.
Although Israel Bonds were originally primarily sold in the United States, it did not take long for the organization to expand its activities to Canada, Europe, and Central America.
Among members of the International Leadership Delegations were representatives from the US, Mexico, Canada, the UK, other European countries, and several Latin American nations.
In commending the work of Israel Bonds Global President and CEO Dani Naveh, a former health minister, Herzog commented that they had been friends since they served in the same unit in the army. He hastened to add that this was not the reason that he was presenting Naveh with the medal.
Noting the relationship between Israel Bonds and the US, Herzog said: “Throughout the years, the United States has proved to be our most steadfast, our most important friend and ally; and the Israel Bonds provided an anchor of support throughout.”
Listing some of the areas in which proceeds from Israel Bonds have been utilized, Herzog cited construction, the development of infrastructure, and advancements in science and technology, and he declared Israel Bonds to be a vital network of support during times of crisis.
Herzog criticizes Nobel Prize committee
“This has never been more evident than in the last few years of uncertainty, of loss here in Israel since October 7,” he said.
Herzog also used the occasion to criticize the ignoble decision by the Nobel Prize committee to award the Nobel Peace Prize to Navi Pillay, whom he characterized as “one of the leading proponents of the genocide lie.” To reward her for her so-called efforts ‘to promote peace and international law’ was, in Herzog’s perception, “a cynical decision by the Nobel Committee which celebrates a shameful display of moral erosion and is an affront to any life-affirming, peace-loving people, particularly the victims and survivors of the October 7 murders.”
Naveh said that his Holocaust survivor mother, who died recently at the age of 101, used to worry that he and Israel Bonds in general were working too hard. She wondered if what they did was appreciated by the Israeli population.
After being honored by the No. 1 citizen of Israel, Naveh said he could finally assure his mother that the work was appreciated. He emphasized that the honor bestowed by the president belonged to every single person who had ever invested in Israel Bonds, regardless of how much or how little.
Naveh also mentioned that he had launched a special campaign with instant results on October 7. He had not waited for a day or a week to pass. In addition, he expressed appreciation to the Finance Ministry for its long-standing cooperation.
Dr. Andrew Hutter, US and International Chairman of the Board of Directors of Israel Bonds, said that over the years, he had shaken many hands and received many awards, but nothing compared to shaking the hand of the president of Israel, in his official residence, and receiving thePresidential Medal of Honor.
“This was more emotional than I anticipated,” he said.
A short Israel Bonds film was screened. Naveh said that there had been photographs from the launch in New York by Israel’s founding prime minister David Ben-Gurion, but no movies until AI became available.
The film opens with Ben-Gurion and Albert Einstein sitting on a park bench, discussing their individual visions for the future. All of a sudden, a young woman appears out of nowhere. Einstein asks who she is, while Ben-Gurion goes off to do one of his favorite things – to stand on his head – this time, wearing a suit and not in his swimming trunks.
The mysterious woman takes Einstein time-traveling through Israel’s crisis periods when Israel Bonds consistently came to the rescue. The punchline involves Einstein remarking that he would have to rewrite his Theory of Relativity