Biggest US aid package to Israel soon finalized

A new US military aid package to Israel — said to be the largest in American history — is expected to be finalized in the very near future, US Ambassador to Israel Dan Shapiro said on Sunday.

Speaking at a conference, Shapiro said the new agreement would be in place until 2029 and would constitute “the US’s biggest aid package to any other country in history.”

The deal “would be finalized in the very near future,” he said.

US and Israeli officials have been in talks for months to hammer out a memorandum of understanding that would increase US military aid to Israel for the next 10 years, due to be renewed before 2018.

The current aid package stands at $3 billion annually, and Israel has asked that the amount for the next 10-year deal be raised to $3.7 billion each year, according to reports.

In addition to the extra $700 million per year, Israel is also reportedly asking that the memorandum include a separate deal for missile system spending, which could raise the total amount to more than $4 billion annually.