FAU President Adam Hasner announced on Friday that the university will invest $5 million in Israeli bonds, making FAU the largest Israeli bondholder among universities in the world.
The FAU Foundation previously purchased $3.2 million in bonds, now totaling $8.2 million, according to the university’s news release. Israel Bonds are loans that investors make to the State of Israel, which are expected to be paid back in full with interest, according to the Israel Bond website. Investments go toward economic support to strengthen innovative projects in Israel, the website states.
Hasner announced this additional purchase at the Israel Bonds Unity for Israel Reception, a ceremony meant to celebrate FAU’s recent investment, according to the news release. He said investing in this bond will benefit the goals of the university and show support for Israel.
“This is a sound financial decision, but equally important, it is a statement of solidarity that reflects our vision for the future,” Hasner states in the news release. “As a leading university and a member of the South Florida community, we cannot ignore what is happening to Jewish students across the country, and we are proud of the steps we are taking to become the safest and most welcoming university for Jewish life in America.”
FAU’s decision to purchase the Israel Bond reflects Florida’s initiative to invest. Palm Beach County is the largest local government Israel Bond investor in the world, according to the news release.
Florida Statute 218.415 permits local governments, including university foundations, to invest in “Rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel.”
Sephora Charles is the News Editor for the University Press. For information regarding this or other stories, email Charles at [email protected].