NPR. Every once in a while, Me Too Galati gets these phone calls.

He's a law professor at the University of Virginia and he specializes in a niche area of

finance called sovereign debt. That's the money that governments borrow.

Because there's so few of us, all three of us who work in the area, are considered experts.

And so whenever there is a question,

one of us will get asked.

And there's one question that me too has gotten asked a couple of times.

Once over a decade ago, when Greece was in a debt crisis, then two years ago

when Ukraine was invaded by Russia and needed money. Both times Me too got phone

calls from people asking.

Do you know about how to do diaspora bonds?

Diaspora bonds.

These are bonds that government sell to people who live elsewhere

but still feel a connection to their countries of origin, enough of a connection

to lend their home countries money.

It's a fundraising tool that countries from India to Ethiopia have experimented with. But there's just one country that's raised billions of dollars

through a long-running diaspora bond program, and that country is Israel. This is the indicator from planet money. I'm Darren Woods and I'm

Whelan Wong. Today on the show we look at the Israeli program to learn how

diaspora bonds function as both an expression of patriotism and a financial investment.

Plus we see how Israel is using these bonds to fund its war with Hamas. This message comes from NPR sponsor SAP Concur.

Stuart McClain, CFO of Brother UK shares how SAP concurs audit and expense tool supports their work across multiple offices.

Across Europe we have a presence in 17 countries which obviously involves 17 different tax regulations

...