from Fourth Press, December 2006


“Making an Investment in the Middle East”

Fourth Presbyterian Church has taken bold steps in Israel and the Palestinian territories to express support for our brothers and sisters there and to help relieve human suffering in the region.

In 2004, the 216th General Assembly of the Presbyterian Church (USA) voted to begin a process of divestment from companies doing business in Israel whose business was harmful to Palestinians. The measure caused distress to many of our Jewish neighbors.

Fourth Church responded with several actions. First, our Session urged the PCUSA to reinvest in Israel and the Palestinian territories any divested funds; pledged to invest our own church funds in the region in ways that benefit the human condition; and convened a task force to address Middle East investment issues.

Second, Fourth Church took its reinvestment proposal, via an overture adopted by the Chicago Presbytery, to the 217th General Assembly of the PCUSA in June 2006. That General Assembly apologized for the hurt caused by the previous divestment measure and expressed support for positive economic engagement in the region.

Third, Fourth Church set aside one percent of its invested funds to make positive investment in Israel and the Palestinian territories. Fourth Church has so far invested a portion of that in five Israeli companies and is seeking similar commercial investment opportunities in the territories. That search has been complicated by the economic turmoil that has engulfed the Palestinian territories since the election of Hamas and the subsequent cutoff of aid from Western governments, including the United States.

Because a humanitarian crisis has ensued, in which Palestinians lack critical supplies such as food and medicine, and because that burden has fallen heavily on innocent children, Fourth Church committed $20,000 to UNICEF for its work in relief for Palestinian children. Initially we were told by UNICEF that due to government restrictions on funds going into the Palestinian territories, UNICEF could not accept the gift. However we later learned that partly due to our example of financial commitment, UNICEF was able to work with our government to accept the funds and earmark them for relief projects.

We will continue to be in partnership with UNICEF and look forward to hearing how they are utilizing Fourth Presbyterian Church funds to make a positive difference for those living in the Middle East.