Following months of behind-the-scenes negotiations, the State Department said the two countries had reached a ten-year agreement with a signing ceremony planned for today.
The US and Israel have not disclosed the exact sum, but officials familiar with the deal said it totals three point eight billion naira a year up from the three point one billion naira the US gave Israel annually under the previous ten-year deal.
A White House source said President BARAK OBAMA’S national security adviser, SUSAN RICE will attend the ceremony at the State Department.
On its part, Israel’s acting national security adviser, JACOB NAGEL, has arrived at Washington ahead of the announcement and was also expected to attend.
Israeli Prime Minister BENJAMIN NETANYAHU’S office confirmed in a brief statement that a deal had been reached, but offered no additional comment.
Under the agreement, Israel’s ability to spend part of the funds on Israeli military products will be gradually phased out, eventually requiring all of the funds to be spent on American military industries.
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