Indiana is investing more in Israel. The state’s treasurer announced last week that he has authorized the purchase of more Israeli bonds.

The purchase means that Indiana is essentially purchasing some of Israel’s debt. The state gets a return on that purchase in the form of a 5-percent interest rate. That’s something State Treasurer Daniel Elliott says he couldn’t pass up.

“For us as a state, we are always looking for good investments,” he told All Indiana Politics. “I am very limited in what I can invest in, so when I’m looking for these opportunities to invest, I’m trying to get the best return.”

Elliott said that his office has caught both lots of praise and lots of flack for the decision to invest in Israeli bonds. The Jewish community has thrown lots of support behind the move. but, Elliott said that protest groups against the Israel-Hamas War have made their disdain for the decision clear too.

Elliott said the state has a duty to support Israel.

“Israel is an ally,” he said. “When we had 9/11 they were there to support us. We need to be doing the same thing for Israel.”

Elliott made it clear that the money used in the purchase of the Israeli bonds would not be used in any way in their war with Hamas. He said the funds will go towards Israeli infrastructure.

In like manner, Elliott said the state continues to divest itself from China as mandated by state lawmakers this past legislative session.