Herzog Awards Presidential Medal of Honor to Israel Bonds

President Isaac Herzog awarded the Presidential Medal of Honor to Israel Bonds on October 12, The Jerusalem Post reports, honoring the organization for raising billions for Israel after October 7. Israel Bonds, officially the Development Corporation for Israel, is a vital part of Israel's economic engine, the Post writes. The festive ceremony was overshadowed by the school hike tragedy in the north that day, in which one pupil was killed and 23 students and teachers were wounded.

Speaking to the group's International Leadership Delegation, Herzog said he could not begin without offering a prayer for the safety of the pupils and the speedy recovery of the wounded. Then he turned to the record. Over the years Israel Bonds has invested $58 billion in Israel's economy, with $1 billion invested in the first month after the October 7 catastrophe and an additional $8.5 billion raised since then, the Post reports. The organization keeps breaking its own records.

Herzog's own family was there at the beginning, the Post reports. His uncle Abba Eban, then Israel's ambassador to the United States, played a prominent role in founding the program. Herzog said the founders wanted to raise money for the new state, and they also saw "a devoted Jewish community aching to be connected to the redemption of the Land of Israel after 2,000 years of yearning from afar" and a chance to deepen friendship with the American people. The bonds were first sold mainly in the United States, and the work soon spread to Canada, Europe and Central America.

Herzog called the United States Israel's most steadfast and most important friend and ally through the years, with Israel Bonds as an anchor of support throughout, the Post reports. The proceeds have gone to construction, infrastructure and advances in science and technology, he said, and the program has been a vital network of support in times of crisis. "This has never been more evident than in the last few years of uncertainty, of loss here in Israel since October 7," he said. Herzog also took aim at a Nobel Committee decision to honor a recipient for her efforts to promote peace and international law, calling it "a cynical decision by the Nobel Committee which celebrates a shameful display of moral erosion and is an affront to any life-affirming, peace-loving people, particularly the victims and survivors of the October 7 murders."

Herzog praised Israel Bonds Global President and CEO Dani Naveh, a former health minister, and noted the two have been friends since they served in the same army unit, adding that this was not why Naveh was receiving the medal, the Post reports. Naveh said he could finally assure his mother that the work was appreciated, and he said the honor belonged to every person who ever invested in Israel Bonds, however much or little. Dr. Andrew Hutter, the organization's US and International Chairman, said he had received many awards over the years, but nothing compared to shaking the president's hand in his official residence and receiving the medal.