Netanyahu: ‘Historic’ US-Israel Military Aid Deal Shows ‘Great Friendship’

Israeli PM Benjamin Netanyahu has hailed the US-Israel $38 billion security assistance memorandum of understanding (MOU) as a "historic" defense aid package that demonstrates the power of US-Israeli friendship.

TEL AVIV (Sputnik) – "This agreement demonstrates the simple truth that the relationship between Israel and the US is strong and powerful," Netanyahu said on Wednesday, as quoted by The Times of Israel, stressing that the deal "is the largest military aid package the US has ever given out to any nation."

On Wednesday, 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.

"I want to thank President Obama and his administration for this historic agreement," Netanyahu said, adding that the deal will help Israel "continue building our armed forces, improve our missile defense systems."

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

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