The German government has agreed to allocate a record $1.5 billion in Holocaust reparations this year, with a focus on increased support for survivors' medical expenses.

Germany has decided to provide a one-time payment of 25 million Euros through the Conference on Jewish Material Claims Against Germany to approximately 120,000 Holocaust survivors in Israel as a show of solidarity following the recent Hamas attack.

According to a report by the Conference on Jewish Material Claims Against Germany, there are currently fewer than 250,000 Holocaust survivors alive today.

Germany has agreed to record $1.4 billion in annual Holocaust reparations, the largest amount agreed to for a single year since reparations began.