US Signs Unprecedented $38Bln Security Assistance Agreement With Israel

© AP Photo / Jacquelyn Martin, PoolU.S. and Israeli flags fly as U.S. Secretary of State John Kerry arrives in Tel Aviv, Israel, Tuesday, Nov. 24, 2015
U.S. and Israeli flags fly as U.S. Secretary of State John Kerry arrives in Tel Aviv, Israel, Tuesday, Nov. 24, 2015 - Sputnik International
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The United States and Israel signed a 10-year $38 billion security assistance memorandum of understanding (MOU) with Israel on Wednesday that represents the largest single bilateral pledge of defense aid in US history.

WASHINGTON (Sputnik) — US State Department Under Secretary for Political Affairs Thomas Shannon and the Head of Israel’s National Security Council Yaakov Nagel signed the agreement, which consists of $33 billion in foreign military financing and $5 billion in missile defense, sitting at a table during a ceremony in the State Department treaty room.

"This memorandum of understanding is the single largest pledge of military assistance to any country in the United States’ history," Shannon said before signing the MOU document.

The new US-Israel MOU on security assistance will be effective for fiscal years 2019 through 2028, according to the State Department.

The current agreement, which ends at the end of 2018, totaled $3 billion annually before additional US Congress allocations. Israeli Prime Minister Benjamin Netanyahu had sought a deal totaling $45 billion over ten years.


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