Jewish Agency, JFNA launch $130m. loan fund from Bank Leumi for reservists

The Jewish Agency for Israel and the Jewish Federations of North America (JFNA) have established a $130 million (NIS 430m.) fund for reservists to receive subsidized loans from Bank Leumi to help them with the burdens they are facing.
 
“We are pleased to collaborate with these important organizations to provide further assistance to reservists,” said Eyal Ben-Haim, the head of Bank Leumi’s Banking Division. “This is the least we can do to stand by them in this challenging period we are all experiencing.”
 
The newly established fund will provide families of reservists, including customers from any bank, the opportunity to receive a loan from Bank Leumi at a subsidized, fixed interest rate of 2% to help them cope with economic challenges and other needs during this difficult period, the press release said.
 
To be eligible for a loan, reservists must have served more than 200 days since October 7, 2023. They will be eligible to receive a loan for any purpose of up to NIS 40,000 for a period of four years at a fixed 2% rate.
 
“This fund, established thanks to the support of Jewish donors from North America, is living proof that world Jewry and Israel stand shoulder to shoulder: solidarity translated into action, partnership that brings hope, and mutual responsibility that strengthens our resilience as a society and as a people,” Jewish Agency CEO and Director-General Yehuda Setton said.
 
JFNA president and CEO Eric Fingerhut said: “For us, North America’s Jewish community, this is not only Israel’s struggle; it is the struggle of the entire Jewish people. This new loan fund is an expression of the mutual responsibility that binds us across the ocean: a clear message to Israel’s citizens that they are not alone.
 
“Just as we stood by Israel in the days after October 7 and contributed over $900 million toward its recovery, we will continue to stand shoulder to shoulder – in solidarity, in support, and in full partnership.”