Herzog honors Israel Bonds for raising billions post-Oct 7 while mourning northern school tragedy

OCTOBER 13, 2026 16:29The festive ceremony celebrating the conferring of the Presidential Medal of Honor on Israel Bonds was overshadowed on Monday evening by the tragic outcome of a school excursion in the north in which one pupil was killed, and 23 students and teachers were lightly to critically injured.President Isaac Herzog, in his address to the International Leadership Delegation of Israel Bonds, said that he could not begin without offering a prayer for the safety of the participating pupils and the speedy recovery of the injured.Israel Bonds, whose official title is the Development Corporation for Israel, is a vital component in Israel’s economic engine.Over the years, it has invested $58 billion in Israel’s economy - with $1 billion in the first month following the October 7 catastrophe. Since then, an additional $8.5 billion has been raised. The organization keeps breaking its own records.Harking back to the beginnings of Israel Bonds, in which his late uncle Abba Eban - who was then Israel’s ambassador to the United States - played a prominent role, Herzog said that the founders had created the organization with multiple motivations in mind, the first being to generate financial support for the nascent state of Israel.IDF helicopter evacuates wounded victims after unexploded Hezbollah ordnance detonated in northern Israel, October 12, 2026. (credit: IDF SPOKESPERSON'S UNIT)Israel Bonds sold in US, Canada, Europe, Central AmericaThe founders saw in post-war America “a nation as generous as its vast landscapes, committed to fighting for freedom, prosperity and liberty for all. They 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 they saw an opportunity to deepen the ties of friendship with the American people through these coupon - and interest-bearing bonds,” said Herzog, adding that the success of Israel Bonds had exceeded their wildest dreams.Although Israel Bonds were primarily sold in the United States, it did not take long for the organization to expand its activities to Canada, Europe and Central America.Among members of the International Leadership Delegations were representatives from the US, Mexico, Canada, the UK and other European Countries and several from Latin America.In commending the work of Israel Bonds Global President and CEO Dani Naveh, a former Health Minister of Israel, Herzog commented that they had been friends since they served in the same unit in the army, but hastened to add that this was not the reason that he was presenting Naveh with the medal.Noting the relationship between Israel Bonds and the US, Herzog said: “Throughout the years, the United States has proved to be our most steadfast, our most important friend and ally; and the Israel Bonds provided an anchor of support throughout.”Listing some of the areas in which proceeds from Israel Bonds have been utilized, Herzog cited construction, the development of infrastructure, and advancements in science and technology and declared Israel Bonds to be a vital network of support during times of crisis. “This has never been more evident than in the last few years of uncertainty, loss here in Israel since October 7,” he said.Herzog criticizes Nobel Prize committeeHerzog also used the occasion to criticize the ignoble decision by the Nobel Prize committee to award the Nobel Peace Prize to Navi Pillay, whom he characterized as “one of the leading proponents of the genocide lie." To reward her for her so-called efforts "to promote peace and international law" was, in Herzog’s perception, "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 the victims and survivors of the October 7 murders.”Naveh said that his Holocaust survivor mother, who died recently at the age of 101, used to worry that he and Israel Bonds in general were working too hard. She wondered if what they did was appreciated by the Israeli population. After being honored by the number one citizen of Israel, Naveh said he could finally assure his mother that the work was appreciated. He emphasized that the honor bestowed by the President of Israel belonged to every single person who had ever invested in Israel Bonds regardless of how much or how little.He also mentioned that he had launched a special campaign with instant results on October 7. He had not waited for a day or a week to pass. In addition, he expressed appreciation to Israel’s Finance Ministry for its long-standing cooperation.Dr. Andrew Hutter, US and International Chairman of the Board of Directors of Israel Bonds, said that over the years, he had shaken many hands and received many awards, but nothing compared to shaking the hand of the President of Israel in his official residence and receiving the Presidential Medal of Honor. “This was more emotional than I anticipated,”| he said.A short Israel Bonds film was screened. Naveh said that there were still photographs from the launch in New York by Israel’s founding prime minister David Ben Gurion, but no movies, until AI provided the solution.The film opens with Ben-Gurion and Albert Einstein sitting on a park bench and discussing their individual visions for the future. All of a sudden, a young woman appears out of nowhere. Einstein asks who she is while Ben Gurion goes off to do one of his favorite things - which is to stand on his head - this time in a suit and not in his swimming trunks.The mysterious woman takes Einstein time-traveling through Israel’s crisis periods when Israel Bonds consistently came to the rescue. The bottom line is Einstein’s remark that he will have to rewrite his theory of relativity.Follow us on Google