In a show of solidarity with Israel as the war with Hamas rages on, the state of Texas has purchased an additional $20 million in Israel bonds, according to Texas Comptroller Glenn Hegar.
Hegar’s office said the purchase will provide “liquidity to Israel as it defends itself against Hamas.”
“Texas has long had a deep spiritual, political and economic connection to Israel and the Israeli people,” Hegar said. “They are our friend and ally, and Texas supports their right to defend their people against these cowardly terrorists. We will stand with them, and we will provide them with the financial liquidity needed to respond to the atrocities we’ve all witnessed.”
Hegar said that since 1994, Texas has invested in Israel bonds annually and with the latest purchase will hold nearly $100 million in them. The fixed-rate bonds mature within five years and carry an interest rate of 5.74%, he continued.
“The state of Israel is a solid investment,” Hegar said. “For nearly 30 years, Israel bonds have been a key component of our investment portfolio at the state’s treasury, providing a reliable return for the people of Texas. As a Texas taxpayer, I am proud to support our ally, and as your Comptroller, I am confident this is a prudent financial decision for the state of Texas.”
Source : Spectrum
