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The Hopes, Achievements and Crises
At the end of 1923 the Third Aliyah to Eretz Israel ends, having brought 34,000 Jews to Palestine, many of whom were pioneers. A serious social and economic crisis hits the Jewish Yishuv because of reduced government activity (especially road-building). There is increased yerida from Palestine.
Keren Hayesod provides funding for the country's first two absorption centers for olim from the Third Aliyah. It takes upon itself the funding of the Yishuv's education network and builds a village which serves as a refuge for orphans of the Ukrainian pogroms. At the same time it finances settlement areas, the health service, development, infrastructure and industry.
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