[Ha'aretz] Barak Ravid - Israel and the U.S. on Thursday signed a Memorandum of Understanding on a new American defense package for Israel. The U.S. will transfer $30 billion to Israel over 10 years, compared with $24 billion over the past decade. Israel is slated to receive the first payment in October 2008, amounting to $2.55 billion. That sum will grow each year by $150 million until it reaches $3.1 billion in 2011. In addition, the agreement permits Israel to convert into shekels 26.3 percent of the aid money, thereby enabling it to procure defense equipment from Israeli companies. The rest of the aid must be used to purchase equipment from American military industries.
2007-08-16 01:00:00Full ArticleBACK Visit the Daily Alert Archive