Louisiana buys $5m worth of Israel Bonds
State of Louisiana may invest up to 5% of the portfolios of three trust funds in bonds from other countries.
"This is a win-win situation for Louisiana and Israel," said Louisiana State Treasurer John Kennedy. "Israel is the only democracy in the Middle East. It is America's only true friend in the Middle East, and it is one of our staunchest allies."
Louisiana law enables the State of Louisiana to invest up to 5% of the portfolios of three trust funds in bonds from other countries. The state's $5 million investment in Israel bonds is the first step in this process.
Published by Globes [online] - www.globes.co.il - on October 20, 2004
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