US, Israel sign largest ever military aid deal, hail 'unbreakable bond' [View all]

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US, Israel sign largest ever military aid deal, hail ‘unbreakable bond’

Agreement inked at ceremony in Washington will see Israel receive $3.8 billion annually — up from $3 billion — from 2018-2028

By RAOUL WOOTLIFF and ERIC CORTELLESSA; 14 September 2016; Times of Israel

WASHINGTON — Israeli and US officials hailed the “unbreakable bond” between the two nations on Wednesday as they signed Washington’s largest defense aid package to any country in history. The defense package, also known as the memorandum of understanding, “constitutes the single largest pledge of bilateral military assistance” ever, the State Department said ahead of the signing ceremony in the State Department Treaty Room. The new package will grant Israel $3.8 billion annually — up from the $3 billion pledged under the previous agreed-upon MOU — starting in 2018 and through 2028.

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"This agreement will ensure an unprecedented level of defense aid for Israel in the next decade,” Netanyahu said in video. “This is the largest military aid package the US has ever given out to any nation.”

“The agreement will help us continue building our armed forces, improve our missile defense systems,” he added. “I want to thank President Obama and his administration for this historic agreement.”

Under the terms of the deal, Israel pledged not to seek additional funding from Congress for the next decade. The agreement also includes a provision curtailing Israel’s ability to spend the funds on its own arms industry over the next six years — a key area of dispute during talks.

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https://www.timesofisrael.com/us-israel-laud-ties-as-unprecedented-military-aid-deal-signed/