US sign 38 billion dollars deal with Israel

Posted on:15 Sep 2016 18:04:56
US sign 38 billion dollars deal with Israel
15 September 2016 Current Affairs: The United States has signed a 38 billion dollars deal with Israel to provide the country with military assistance over a 10-year period, from 2019 to 2028 on 14 September 2016. 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.

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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