Just before recessing on Friday, the US House of Representatives and Senate approved the Department of State Authorities Act of 2006, which includes an aid package for Israel. The new aid package comes on top of the annual US aid package for Israel, as well as special packages, such as for the Arrow anti-ballistic missile program.
The Act will now be sent to President George W. Bush for signing. The bill extends the US loan guarantees for Israel by three years, to 2011. This was the second extension sought by Israel; the guarantees were earlier extended until the end of 2008.
Israel has used $4.6 billion of the $9 billion in the US loan guarantees. In August, the US administration agreed to Israel’s request to extend the program, and Congress has now given its approval.
The Act also doubles a program to transfer to Israel obsolete or surplus stocks in the War Reserve Stockpile located in Israel, to $800 million and reauthorizes the administration to send to Israel items from these stores.
Published by Globes [online], Israel business news - www.globes.co.il - on December 12, 2006
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