$500 Million in Aid Also to Go to Palestinian Authority
As the single largest expense of the 2010 foreign aid budget, President Obama approved $2.775 billion in military aid to Israel, the first payment in a decade-long commitment that will reach at least $30 billion.
Last year, Israel’s military budget amounted to $13.3 billion, so the US funding is a significant portion of their overall expenditure. The US formerly provided both military and civilian aid, but it has since been folded entirely into military aid, at Israel’s request.
The money is not a blank check, however. The US requires that Israel spend at least 75% of the money given in military aid with US military contractors, effectively using the foreign aid budget to subsidize domestic weapon-makers.
In addition to military aid, the US also provides $3.148 billion in loan guarantees to Israel, part of a Treasury Department program aimed at keep Israel’s debt manageable. Ironically, though the US budget is spiraling out of control and America’s own debt continues to rise, there was no serious debate of reducing aid to Israel.
The budget also pledges $500 million in American aid to the Fatah Party’s Palestinian Authority. This aid is contingent on certain requirements, including that the group recognize Israel. This funding is distinct from any funding the CIA may give the Palestinian Authority’s security forces, which would be secret.
Last 5 posts by Jason Ditz
- US Answer to Taliban Victories in Afghanistan: Blame Russia - February 12th, 2016
- Red Cross Rejects Saudi Demand to Withdraw From Northern Yemen - February 12th, 2016
- Iraq PM: ISIS Will Be Wiped Out By Year's End - February 12th, 2016
- After Ceasefire Deal, Rebels Report New Shipments of Missiles - February 12th, 2016
- Assad Welcomes Peace Talks, Says Goal Is to Retake Syria - February 12th, 2016