The United States and Israel have reached final agreement on a record new package of at least $38 billion in U.S. military aid and the 10-year pact is expected to be signed this week, Reuters reports
The deal will represent the biggest pledge of U.S. military assistance made to any country but also involves major concessions granted by Israeli Prime Minister Benjamin Netanyahu, according to officials on both sides.
Those include Israel’s agreement not to seek additional funds from Congress beyond what will be guaranteed annually in the new package, and also to phase out a special arrangement that has allowed Israel to spend part of its U.S. aid on its own defence industry instead of on American-made weapons, the officials said.
Israel has long been a major recipient of U.S. aid, mostly in the form of military assistance against a backdrop of an ebbing and flowing conflict with the Palestinians and Israel's neighbours, as well as threats from Iran.
The 10-year aid packages underpin Washington’s congressionally mandated requirement to help maintain Israel’s “qualitative military edge” in the region.