The Monument Commemorating Red Army Victory over Nazi Germanywas erected in Netanya in project conducted by Keren Hayesod.

The establishment of the monument was a goodwill gesture to the Russian people that Prime Minister Binyamin Netanyahu announced to President Dmitry Medvedev and Prime Minister Vladimir Putin in 201 during his visit to the Russian Federation.

Keren Hayesod is responsible for the execution of the project which is financed by donations from Keren Hayesod donors across the globe.