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 was announced during the Jewish Agency’s Board of Governors meeting, which was attended by numerous Jewish community leaders globally. The fund, amounting to 60 million shekels, will provide one-time grants ranging from 5,000 to 20,000 shekels to small businesses that have experienced significant financial losses due to the ongoing conflict. The program also offers professional support, including mentoring and workshops, to help these businesses sustain themselves. The initiative is seen as a gesture of unity and gratitude towards the families of reservists who have borne substantial personal and economic burdens.
Why It's Important?
This initiative underscores the global Jewish community's solidarity with Israel and its defense forces. By supporting the families of reservists, the program aims to bolster Israel's societal and economic resilience during a time of conflict. The financial aid and professional support provided to small businesses are crucial for maintaining economic stability and consumer confidence. This move also highlights the interconnectedness of global Jewish communities and their commitment to supporting Israel's defense efforts. The program not only aids in economic recovery but also strengthens the social fabric by acknowledging the sacrifices made by reservist families.
What's Next?
Eligible businesses must demonstrate a loss of at least 30% in revenue compared to prewar periods, and the reservist must have served a minimum of 200 days since October 7, 2023. The program is expected to continue fostering economic resilience and community support as the conflict persists. The Jewish Agency and Class Action Foundation will likely monitor the program's impact and may adjust the support mechanisms as needed to ensure the continued viability of affected businesses.
