The Jewish Agency sets up a loan fund for Jewish communities whose functioning is impaired due to the crisis • Italian Jewry has already turned to aid

• Corona Relief Fund for Jews // Photo: AFP

The Jewish Agency is setting up an emergency fund for Jewish communities, following the severe attack of the Corona virus on Jewish communities around the world, along with its partners in the Foundation and the Jewish communities of North America. The Jewish Agency Fund will provide immediate, non-interest-rate, special loan loans to community organizations that provide essential services to the Jewish community's existence and thus help communities in danger, following the economic and financial hardship they encounter, continue to exist. 

The Corona crisis has caused severe damage to community life throughout the Jewish world and severe economic distress in Jewish communities. Many communities, including those that were previously financially stable, have faced severe financial difficulties and find it difficult to meet immediate community needs and even help community members who need them. Community institutions have been significantly damaged, educational activities have been discontinued, and essential services in the welfare sector, including those with assistance to needy populations, are in danger of being closed. 

The crisis has threatened the financial resilience of some communities and community organizations, which are experiencing a drastic decline in revenue and, as a result, find it difficult to provide their basic services and finance their current expenses. Communities and organizations need oxygenated cash flows to finance working capital, which will allow them to bridge the newcomers until they can return to routine and activity. 



In light of this harsh reality, the Jewish Agency immediately decided to launch an emergency fund for Jewish communities, which would provide immediate loans of working capital and interest free to communities and community organizations outside North America that are in danger. The total amount of the emergency fund will reach $ 10 million in the first phase and will provide loans of up to $ 350,000 to the community or community organization to provide them with oxygen and allow them to sustain themselves financially during this important period, thus continuing community life. The loans will be given for four years and will be repaid without interest as of the end of the first year in four beats. 

The first community that has already applied for assistance from the Jewish Agency Emergency Fund is the Jewish Community of Italy, which needs a cash loan to enable continued ongoing activities and providing basic services to the community in the coming months, after experiencing the greatest distress since the extreme crisis in Italy, and experiencing a drastic decline, Background of the economic crisis following the Corona virus. This is the oldest Jewish community in Europe, a community with a legacy and a glorious past, which, over the years, not only has a vibrant and active Jewish life, but has also contributed throughout the years to the establishment and strengthening of the State of Israel. 

Jewish Agency Chairman Yitzhak Herzog said: "We are dealing with an unprecedented crisis that is affecting every aspect of life and does not overlook the Jewish world. The Jewish Agency, together with its founders in the Foundation and the Jewish Federations of North America, will work to ensure the continued existence of Jewish communities and their vital activities. "All of Israel is Arab to each other" - in this emergency more than ever.



 "" This is the most definite hour order for solidarity, to support a Zionist and committed community that has supported us all these years, and now needs a temporary armrest until it can return to its glory. It is our moral duty as a global Jewish collective to be there for them and for many other communities in need at this difficult time, "said Jewish Agency Executive Director Amira Aharonovitz.



More information and fund requests can be directed from today to:

https://www.jewishagency.org/communities-loan-fund/

The Jewish Agency's relief efforts will be led by the Jewish Foundation and the North American Jewish Communities. In light of the great need for this flow of aid, the Jewish Agency is also calling on other philanthropic foundations and organizations to step up their efforts and join it in rescuing Jewish communities on the verge of collapse. To join the relief efforts, please contact danyellen@jafi.org