US to give Israel $38bn in military aid over 10 years 21409162

Defence & Security News - Israel & United States
US to give Israel $38bn in military aid over 10 years
After months of negotiations, the United States and Israel have agreed on a new $38bn military aid package, the largest ever for the strategic partnership. According to Israeli media, Yaakov Nagel, acting head of the Israeli National Security Council, is traveling to the US to sign a new military aid agreement this week.
US to give Israel 38bn in military aid over the ext 10 years 640 001President Obama and Israel Prime Minister Benjamin Netanyahu
(Credit: (Pablo Martinez Monsivais/AP)
Sources speaking to the Jerusalem Post revealed that the US will supply Israel with at least $38 billion in military aid over the next ten years.

The two nations negotiated the agreement over the past year. One point of contention was how Israel would be allowed to spend the money, with the US insisting that the aid be paid back to American defense companies rather than local industries.

The new arrangement allows Israel to spend the money on its own defense firms for the first six years.

The current aid package stands at $3 billion annually, and Israel has asked that the amount for the next 10-year deal be raised to $3.7 billion each year, according to earlier reports.

In addition to the extra $700 million per year, Israel is also reportedly asking that the memorandum include a separate deal for missile defense spending, which could raise the total amount to more than $4 billion annually.