Memorandum of Understanding on U.S. Foreign Aid to Israel
8/16/2007
Summary:
The United States and Israel signed a memorandum of understanding that aims to provide $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 replaced a previous 10-year aid agreement signed in 1997 that expired in 2008 and that phased out economic aid while gradually increasing the amount of military aid.
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