US (United States) signed a planned security agreement with Jewish State, Israel. The agreement states the military aid for Israel which comprises a commitment to give $38 bn over 10 years.
This deal is the largest deal which US has ever done with any country. The payouts according to deal will begin in year 2019 and US will fund $3.8 billion every year. Earlier the agreement was of $31 billion over 10 years according to which US is giving $3.1 billion every year and this deal will expire in 2018 and then today’s signed deal will come in action.
United States President, Barack Obama said in a statement “This commitment to Israel’s security has been unwavering and is based on a genuine and abiding concern for the welfare of the Israeli people and the future of the state of Israel”.
After a lot of disputes over Iran Nuclear Deal and after months of negotiations, the memorandum of understanding was signed at State Department by Israel’s national security adviser, Jacob Nagel and Thomas Shannon (Third Highest Ranking U.S. diplomat).
Obama’s national security adviser Mr Susan Rice witnessed the deal and called it a sign of Washington’s “Unshakable Commitment” to the security of Jewish state. She also added that this agreement clarifies that US will always be there for the state of Israel and its people for tomorrow and upcoming generations too.
Nagel called the agreement as “rock-solid alliance” between Israel and the United States. He also added “Israel has no better friend, no more reliable strategic ally, no more important partner than the United States of America,” and “Everyone can see and feel the special relationship between our countries and our people.”
The agreement signed today by US states that Israel will be liable to spend the funds on Israeli Military products and eventually all of the money will be spent on American military industries. There will be some internal spending also which is the most prominent point of spending money.