Israel has approved a huge arms purchase from the United States worth $9 billion. The authorization of this deal came late Sunday, after a 3-year delay. The Israeli Finance Ministry had objected to the financing plan due to the interest payment, citing budgetary concerns, but was overruled.
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The deal, worth $9 billion, will supply the Israeli Air Force with F-35 and F-16 fighter jets, Chinook helicopters, refueling planes, in addition to bombs and munitions.
The United States had announced in 2018 its readiness to provide $38 billion military aid in 10 years to Israel. The US had set a deadline for Israel to approve the deal in the next two weeks or lose its priority in American assembly lines, which could have delayed the deal by some two years, reported Channel 12 News.
Much of the deal will be covered by the American military aid granted to Israel in 2018, however, the Israel Defense Forces (IDF) will still have to get loans from US banks with an interest payment of approximately $60 million. This interest payment is the reason why the Israeli Ministry of Finance objected to the deal over budgetary concerns.
Israeli media reported the decision was made with three years of delay following a seven-hour-long Cabinet meeting, which was attended by Defence Minister Benny Gantz.
According to Israeli media sources, Attorney General Avichai Mandelblit objected to the IDF taking a loan without full backing from the Ministry of Finance, saying it created legal difficulties, but did not veto the move.
