What's Happening?
The Jewish Agency for Israel, in collaboration with the Class Action Foundation, has introduced an $18 million grant program aimed at supporting businesses owned by the spouses of Israel Defense Forces
(IDF) reservists. This initiative, announced at the Jewish Agency's Board of Governors meeting, seeks to provide financial assistance to small businesses that have suffered significant losses due to the ongoing conflict. Eligible businesses can receive grants ranging from 5,000 to 20,000 shekels, contingent upon the reservist having served at least 200 days since October 7, 2023, and the business experiencing a revenue drop of at least 30% compared to prewar levels. The program is supported by Jewish communities worldwide and is seen as a gesture of unity and gratitude towards the families of reservists.
Why It's Important?
This initiative underscores the economic challenges faced by families of reservists during prolonged military engagements. By providing financial support, the program aims to mitigate the economic impact on these families, thereby strengthening Israel's societal and economic resilience. The fund also highlights the global Jewish community's solidarity with Israel, reinforcing the bonds between Jewish communities worldwide and those serving in the IDF. This support is crucial in maintaining morale and stability among reservist families, who play a vital role in the nation's defense strategy.
What's Next?
Applications for the grant program are open until November 12, 2025. As the program unfolds, it will be important to monitor its impact on the affected businesses and the broader economic landscape in Israel. The success of this initiative could lead to similar programs in the future, further bolstering support for military families. Additionally, the program's outcomes may influence policy decisions regarding support for military families in other conflict-affected regions.
