Bank of Israel Launches Financial Aid Program for 4,500 IDF Soldiers Facing Economic Hardships
Translated & summarized from Now 14 by baba
The Bank of Israel, together with the Class Action Fund and the IDF, has launched a financial aid program to support 4,500 soldiers facing economic challenges over three years, providing personalized financial guidance and digital tools to promote financial stability during and after military service.
The story in 6 lines · by baba
- New financial aid program supports 4,500 IDF soldiers over three years.
- Program offers personalized budgeting, rights assistance, and financial education.
- Funded with 7.2 million shekels by the Class Action Fund.
- 600 soldiers have participated since March; 1,500 expected annually.
- Operated by Pitchon Lev and partners using human and digital support.
- Bank of Israel and IDF leaders emphasize financial literacy and program expansion.
A new financial support initiative has been launched to assist approximately 4,500 Israel Defense Forces (IDF) soldiers struggling with economic difficulties over the next three years. The program, a collaboration between the Bank of Israel, the Class Action Fund, and the IDF Human Resources Directorate, aims to provide personalized financial guidance including budgeting, rights assistance, and tools for stable financial management during and after military service.
Since its inception in March, around 600 soldiers have already participated, with an expected annual enrollment of 1,500 soldiers identified through the IDF's welfare and command systems based on set criteria. The program is funded with a budget of about 7.2 million shekels, provided by the Class Action Fund.
Participants receive comprehensive personal support that includes mapping their financial status, ongoing financial management assistance, and digital support via dedicated technological platforms to help reduce debt, control expenses and income, and build a stable economic foundation. The program is operated by the "Pitchon Lev" association in partnership with Rise Up and "HaTashteet" association with Citizen Impact, combining human guidance with technological tools.
Bank of Israel Governor Professor Amir Yaron emphasized the importance of financial literacy as a fundamental tool for independence, highlighting that the program's success depends on personalized engagement tailored to each soldier's life circumstances. IDF Human Resources Chief Major General Dado Bar-Kalifa expressed a vision to expand the program to career soldiers, non-commissioned officers, and officers to ease financial challenges and enable top personnel to continue serving and leading in the IDF.
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