JERUSALEM – The Israeli government will spend more than half the money provided by the US for the Iron Dome anti-missile system in the US.
Israel will pay US contractors some 30 percent of the $176 million allocated for the Israeli-built missile interception system for the coming fiscal year and 55 percent for the next year, up from three percent, Bloomberg News reported, citing a US Missile Defense Agency report to Congress.
“Under this agreement, the United States focus shifts toward maximizing economic activity in the United States while ensuring that Israel’s security needs are met,” the missile defense agency said in the April 2 report, Bloomberg reported Wednesday. “This new agreement strikes a better balance for both parties and should serve as a model for the future.”
Congress has approved $703 million since 2011 for Israel to spend on Iron Dome.