CLEVELAND — Ohio is one of the largest government holders of Israel bonds, but that has become a flash point for protesters locally amid the Israel-Hamas War.

What You Need To Know

  • Ohio is one of the largest government holders of Israel bonds in the United States officials say

  • Franklin County’s holdings of Israel bonds amount to $25 million

  • Cuyahoga County’s total holdings are $16 million

Israel bonds are debt securities issued by the state of Israel with a U.S.-based underwriter.

These bonds were established in the 1950s to generate investments in Israel and more than $50 billion worth has been sold worldwide.

"Bonds are basically certificates of debt that a state or country issues for payment at a certain maturity date at a certain time in the future that basically, give back your money, your principal, plus interest," said Juscelino Colares, a law professor at Case Western Reserve University.

But Palestinian activists criticize the investment, saying the money could be better used to serve local communities. Activists have been attending now asking the Cuyahoga County Council to sell the $16 million it owns in Israel bonds.

Ohio is one of the largest government holders of Israel bonds in the United States, according to state Treasurer Robert Sprague.

The State of Ohio Treasury holds $262.5 million in Israel bonds after buying $30 million in early February.

Sprague said in a Feb. 8 news release that Israel has demonstrated a "solid repayment history and competitive rates" and the bonds are a "great fit" for the state's bond ladder.

Franklin County's holdings of Israel bonds amount to $25 million, the largest of any county in Ohio, and Cuyahoga County's total holdings are $16 million.

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