Memorandum of Understanding on U.S. Foreign Aid to Israel

8/16/2007

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The United States and Israel signed a memorandum of understanding that provides $30 billion in U.S. military aid to the Jewish state over the next decade. The memorandum notes that foreign aid enhances the “political, security and economic interests of both countries” and that the two nations “intend to continue their active dialogue on security and economic policy in existing bilateral committees.” The new memorandum will replace a previous 10-year aid agreement signed in 1997 that expires next year and that phased out economic aid while gradually increasing the amount of military aid.