U.S. Government Pledges $3.8 Billion In Loan Guarantees To Israel
In a meeting on Monday between U.S. State Department and Israeli officials, the U.S. officials promised to extend loan guarantees to Israel for the next three years. The $3.8 billion in loan backing is in addition to the $3 billion a year in aid given to Israel by the U.S. government. - Israel is the only recipient of U.S. foreign aid and loans that is not considered a ‘developing’ nation, with an annual GDP of $235 billion ($29,800 per capita). In contrast, the next biggest recipient of U.S. aid, Egypt, receives less than half of the amount given to Israel and has a GDP of $6,200 per capita. Every other recipient of US aid has a GDP that is below that of Egypt. The U.S. Congress recently approved a guaranteed $30 billion in aid to Israel over the next 10 years. This aid, unlike assistance provided by the U.S. government to other countries, has no requirements, and is provided without stipulation as to how it should be used.