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U.S. statement confirms terms of new $38 billion Israel aid package

WASHINGTON (Reuters) - The terms of a new $38 billion aid package for Israel were confirmed in a White House statement obtained by Reuters ahead of a State Department ceremony on Wednesday to sign the new 10-year pact.

The package constitutes the most ever given to any country and was reported by Reuters earlier. The details, contained in an official “factsheet” on the package, include:

-$500 million a year for Israeli missile defense funding, the first time this has been formally built into the aid pact.

-A phasing-out of a special arrangement that for decades has allowed Israel to use a quarter of the U.S. aid on its own defense industry instead of American-made weapons.


-Elimination of a longstanding provision that has allowed Israel to use a portion of the U.S. aid to buy military fuel.

(Reporting by Matt Spetalnick; Editing by Susan Heavey)