Illinois Treasurer Michael Frerichs has been investing in Israel for nearly a decade. Since becoming the sole fiduciary of the fifth-largest GDP in the country in January 2015, he has invested tens of millions of taxpayer dollars into the Development Corporation of Israel (“DCI”). DCI is the underwriter for “Israel Bonds,” uninsured debt securities issued by the Israeli government to raise capital for the country. The idea to pitch these kinds of bonds originated after the 1948 Nakba, when the new state was critically short on economic resources.

According to the the Illinois State Treasurer’s Office, the state of Illinois currently has $100 million invested in Israel Bonds.

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