In 1920, Keren Hayesod (United Israel Appeal) was founded. Its purpose was to provide financial investment for building and developing the Jewish homeland. Over the years, Keren Hayesod has assisted in bringing 3 million immigrants to Israel and facilitating their absorption. Keren Hayesod has also helped establish and develop over 800 villages and towns in Israel. Its managing director, Leib Jaffe, was amongst those killed in 1948 by a bomb explosion in the Jewish Agency courtyard.