At the weekly Cabinet meeting in Jerusalem today, the Israeli government approved the “Joint Initiative of the Government of Israel and World Jewry.”

The Government of Israel-World Jewry Initiative was launched with a clear objective – to ensure the security and growth of a vibrant Jewish future while enhancing the connection between the Jewish People and the State of Israel.

The government decision today is the first of two stages:

In the first stage, the government approved the establishment of a new organization that will spearhead the initiative and which will encompass a partnership between the Government of Israel, Jewish foundations and organizations, as well as private philanthropists from around the world.

The Initiative – funding for which will come from three sources: 1/3 from the Government of Israel, and at least 2/3 from the Organized Jewish World and private philanthropists – will have a budget of at least NIS 561 million over the next three years.

To finance the establishment of the new entity as well as its pilot programs, the government approved a budget of NIS 187 million over the next three years and reaffirmed its commitment to the current budget of NIS 400 million already designated for Diaspora programming.

After the new entity is up and running, in 2016 the government will be brought the second stage of the Initiative for approval which will call for an annual budget of NIS 800 million for Diaspora programming.

“This is a revolution in the State of Israel’s relationship with the Diaspora” Jerusalem and Diaspora Affairs Minister Naftali Bennett said after the cabinet decision. “This new entity will look at the Jewish world’s needs for the next 25 years and will find new ways to strengthen Jewish identity and bolster ties between the State of Israel and the Diaspora.”