The U.S. government hasÂ pledged $38 billion in foreign military financing and missile defense assistance to the government of Israel under a memorandum of understanding that seeksÂ to support Israel’s efforts to update its military.
The White HouseÂ said WednesdayÂ the 10-year pactÂ will allowÂ Israel to acquire additional F-35Â aircraftÂ and build onÂ its missile defense capacity to address the threat environment.
The administrationÂ noted that the package covers fiscal years 2019 to 2028 at $3.8 billion perÂ year, withÂ $33 billion and $5Â billion allottedÂ for FMF and missile defense assistance and annually disbursed in equal increments of $3.3 billion and $500 million, respectively.
The MoUÂ also works toÂ facilitate long-term missile defense assistance to Israel and eliminate traditional year-to-year appropriation, the White House said.
It added theÂ MoU will also discontinue two currentÂ 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, Israelâs chief negotiator and acting national security council chief, arrived in Washington to sign the agreement with Susan Rice, U.S. national security adviser.