Treasurer Garrity invests another $25M in Israel Bonds

Harrisburg, Pa. — One day before Israel's surprise attack on Iran's capital last week, the Pennsylvania Treasury Department invested an additional $25 million in Israel Bonds.

As of July 1, the Pennsylvania Treasury Department will have $64.5 million in Israel Bond investments. This includes the $20 million that Treasurer Garrity invested following the October 7 attacks in 2023.

These new bonds will earn the Commonwealth a return of 4.96% — roughly 100 bps more than comparable U.S. Treasury Bonds. The Commonwealth has invested in Israel Bonds for more than 30 years. 

“Israel is our greatest ally in the Middle East, and I will continue to stand by them in their fight to achieve peace,” Treasurer 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.”

Development Corporation for Israel (known as Israel Bonds) and its affiliates around the world have generated over $54 billion in worldwide investments since it was founded over seven decades ago.

“We are grateful to State Treasurer Stacy Garrity and Pennsylvania for their continued confidence in Israel Bonds,” said Dani Naveh, Global President and CEO of Israel Bonds. “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.”