 During the 1920s, Keren Hayesod began to lay the groundwork for the state-on-the-way and helped raise funds to establish the Hebrew University of Jerusalem, Bank Hapoalim and various physical projects.In 1926, Keren Hayesod relocated its headquarters from London to Jerusalem.With the establishment of the Jewish Agency in 1929, Keren Hayesod became its fundraising arm while continuing its own wide-ranging activities.