Loan Guarantees To Israel
In 1992 congress and president bush authorized 10 in guarantees to israel and in 2003 a new set of loan guarantees for 9 billion were put in place to serve until 2012.
Loan guarantees to israel. Almost all us aid to israel is now in the form of military assistance while in the past it also received significant economic assistance. The 9 billion in loan guarantees along with 1 billion in direct aid comprise a special post gulf war ii aid package awarded to israel on top of the 3 billion in other assistance that the. The announcement came after several months of worry in israel that the loan guarantees would not be extended despite israel s request.
Secretary of the treasury timothy geithner and doron cohen the director general of israel s finance ministry signed an agreement extending the loan program until 2016. The united states extended its 4 billion loan guarantees to israel by another four years on wednesday. Since actual immigration has turned out to be less than anticipated the loan guarantees now largely unused could facilitate emigration from the territories by financing housing within pre 1967 israel for tens of thousands of returning israeli settlers.
Loan guarantees to israel to 2016. Government has informed israel that it will recommend that congress approve a three year extension of loan guarantees to israel worth 3 8 billion. Treasury secretary timothy geithner and israeli treasury director general doron cohen signed an agreement in october 2012 that will extend u s.
Our readers rely on us for the most comprehensive analytical coverage of news from the middle east muslim countries europe and the united states. For more than 38 years the washington report on middle east affairs has been essential reading for the nation s most sophisticated populace. Congress agrees to extend loan guarantees for israel for another 4 years u s.
Loan guarantees to israel are just another way that the united states financially helps the jewish state but this is done without even spending one dollar. In july this year president barack obama signed legislation extending the us loan guarantee program for israel to 2016 allowing the us to provide access to up to 3 8 billion in future loan. Israel to provide loan guarantees for startups tech chief says new initiative aims to keep israeli companies in israel declares aharon aharon head of israel innovation authority.
Strong congressional support for israel has resulted in israel receiving benefits not available to other countries. The agreement gives israel four more years to use 3 8 billion in guarantees left over from the 9b.
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