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US: $10 Billion for Israel

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  • ummyakoub
    U.S. to give Israel $9B in loan guarantees, $1B in military aid By Aluf Benn, Nathan Guttman (Washington) and Moti Bassok Haaretz 20 March 2003 The United
    Message 1 of 1 , Mar 20, 2003
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      U.S. to give Israel $9B in loan guarantees, $1B in military aid

      By Aluf Benn, Nathan Guttman (Washington) and Moti Bassok

      Haaretz
      20 March 2003

      The United States will give Israel $9 billion in loan guarantees
      over four years and $1 billion in military aid, the American
      administration decided Wednesday. The aid package still requires
      congressional approval.

      Israeli officials expressed disappointement with the $1 billion in
      military aid, as Israel had requested $4 billion, Israel Radio
      reported.

      U.S. National Security Advisor Condoleezza Rice telephoned Finance
      Minister Benjamin Netanyahu to inform him of the decision. Netanyahu
      expressed to Rice his thanks and that of the Israeli people.

      The administration decided to grant Israel $1 billion more in loan
      guarantees that originally requested ($8 billion), because of the
      positive impression the U.S. had of the Finance Ministry's emergency
      economic plan intended to revive the economy, which was presented to
      the White House as a precondition for receiving the loan guarantees.
      In return for receiving the loan guarantees, the U.S. is demanding
      that Israel adopt a series of economic reforms.

      The leaders of both houses of Congress this week sent a letter to
      President George W. Bush, asking him to approve the special aid
      package that Israel has been seeking.

      Pro-Israel lobbyists in Washington managed to muster the support of
      leaders of both parties in Congress for the aid request. A joint
      letter written by Senate Majority Leader Bill Frist and Senate
      Minority Leader Tom Daschle stated that Israel is facing severe
      challenges in both the economic and security spheres, and that,
      given the decline in the Israeli economy over recent years, the
      United States should provide support.

      The letter stated, "We are concerned that, if not addressed soon...
      Israel is in danger of mortgaging its future qualitative military
      edge. We cannot allow this to happen." The letter also stressed that
      the Israeli economy must undergo far-reaching reforms in order to
      extricate itself from its current malaise.

      Similar letters have been sent to Bush by the Speaker of the House
      Rep. Dennis Hastertt (R-Ill.) and House Minority Leader Nancy Pelosi
      (D-CA). The fact that senior figures from both parties are
      signatories on these letters will certainly smooth the passage of
      the request through Congress.


      http://www.iap.org E-mails: iapinfo@...



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