US sign 38 billion dollars deal with Israel

Sep 15, 2016 12:14 IST

The United States on 14 September 2016 signed a 38 billion dollars deal with Israel to provide the country with military assistance over a 10-year period, from 2019 to 2028. The deal is the largest such agreement the US has ever had with any country.

Under the terms of agreement, Israel will receive 3.8 billion dollars a year from the US. At present US gives 3.1 billion dollars to Israel annually under a 10-year deal that ends in 2018.

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Following 10 months of tense negotiations, the two allies finalised the memorandum of understanding (MoU) with a signing ceremony in Washington. It was signed with the hope that this contribution would help in security.

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