Development Corporation for Israel

Israel Bonds are securities issued by the State of Israel to help build the nation's infrastructure. Israel Bonds are backed by the full faith and credit of the Government of Israel, which has maintained a perfect record of repayment of interest and principal since the first bond was issued. David Ben-Gurion established the Israel Bonds program in 1951, as a means of providing Israel with urgently needed economic support. Israel was economically devastated by the War of Independence; immigrants that poured into the country from Europe and Arab nations were living in primitive shelters; food was rationed, and an economic infrastructure was practically non-existent. Rebuffed by Wall Street, Prime Minister Ben-Gurion established the Israel Bonds organization as a means of raising economic capital through the sale of State of Israel securities.