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Arizona to increase its holdings of Israeli bonds | Arizona

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(The Center Square) – Arizona will step up its investment in Israeli bonds as the Middle Eastern country goes to war.

Treasurer Kimberly Yee announced Monday that the state has already invested in these projects, but the increase is intended to symbolize Arizona’s support.

“Following the distressing news of the horrific terrorist attacks in Israel, I immediately directed my investment team to contact our valued partners in Israel to increase our holdings of Israeli bonds while continuing to stand firmly with ‘Israel,’ Yee said.

“The state of Arizona is a friend and ally to Israel, and it is imperative that we support it with our actions, not just our words,” she added.

According to the press release, Arizona already owns $15 million in Israel bonds, which the state began purchasing in 2013. The purchase will be made once the bonds are issued and available.

“Israeli bonds are a safe and reliable investment option that not only contributes to Arizona Treasury’s diversified investment portfolio, but also strengthens our support and partnership with the State of Israel,” said Yee in his press release. “Investing in Israeli bonds is something I not only support, but also urge my fellow state financial officials to do the same, especially during this time of crisis. In this time of adversity, it is our duty to remain steadfast and support Israel as a nation.

This is not the first time that the Republican treasurer, in office since 2019, has taken action regarding Israel. Yee withdrew $143 million in investments from Unilever in 2021, the parent company of Ben & Jerry’s, due to the ice cream company’s decision to boycott the sale of its products in Israel, The central square reported at the time.

“No matter how much Unilever PLC invests in Israel, with Ben & Jerry’s decision to no longer sell its products in the West Bank, the companies are violating the law in Arizona,” she said in a statement at the time. . .

In addition to Arizona, the state of Texas buys $20 million in Israeli bonds, The central square reported Friday.

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