December 26, 2005

A Russian Jewish financier is poised to give a $50-million donation that may prove critical to the Jewish Agency for Israel’s activities in the former Soviet Union.

The gift from Arcadi Gaydamak should help the agency, whose budget in the region has decreased over the last few years, to fund “Zionist education” projects.

The 53-year-old billionaire, who divides his time between Moscow and Israel, told JTA that the agreement between him and the Jewish Agency is almost finalized.

According to the agreement, Gaydamak will receive a seat in the Jewish Agency assembly, a 500-member representative body of Jewish leaders, and will have broad powers in the Jewish Agency’s activities in the former Soviet Union.

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