Gideon Patt to Head Israel Bonds

Former Likud Minister Gideon Patt has been appointed president and chief executive officer of Israel Bonds.

He will take over the international operation after Maj. Gen. (Ret.) Nathan Sharony leaves the position in December.

“Former Minister Patt brings with him a wealth of knowledge of Israel’s economic needs and investment opportunities at this promising and expanding stage of Israel’s economic development,” Sharony said.

Since the program of selling bonds and other securities began in 1951, more than $15 billion in State of Israel Bonds have been purchased worldwide.

Bonds have been used to help develop the country’s infrastructure, technology, agriculture and industry. Since 1990, Israel’s Ministry of Finance has also directed funds for the absorption of new immigrants, especially the massive aliyah from the former Soviet Union.

Patt is a veteran Knesset member and has headed several government ministries, including industry and trade, tourism and housing.

Given that experience, Sharony said, his appointment “is an expression of continuity in working toward the same goal of strengthening Israel’s economy while at the same time creating a bridge between Diaspora Jews and Israel.”

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