The U.S. government has pledged $38 billion in foreign military financing and missile defense assistance to the government of Israel under a memorandum of understanding that seeks to support Israel’s efforts to update its military.
The White House said Wednesday the 10-year pact will allow Israel to acquire additional F-35 aircraft and build on its missile defense capacity to address the threat environment.
The administration noted that the package covers fiscal years 2019 to 2028 at $3.8 billion per year, with $33 billion and $5 billion allotted for FMF and missile defense assistance and annually disbursed in equal increments of $3.3 billion and $500 million, respectively.
The MoU also works to facilitate long-term missile defense assistance to Israel and eliminate traditional year-to-year appropriation, the White House said.
It added the MoU will also discontinue two current arrangements that include Israel’s fuel purchase and offshore procurement through which Israel has spent 26.3 percent of the country’s annual FMF package on non-U.S. products and fuel.
Jacob Nagel, Israel’s chief negotiator and acting national security council chief, arrived in Washington to sign the agreement with Susan Rice, U.S. national security adviser.