Agreement to Grant Israel $10 Billion by US to be Signed this Week
Monday, April 28 2003 @ 12:15 AM GMT
JERUSALEM - An agreement to grant Israel $10 billion in loan guarantees
from the US is expected to be signed this week, following a series of
visits to Washington earlier this year by Israeli delegations, the
Israeli daily Ha’aretz reported on Sunday.
The Israeli delegation headed by finance ministry director-general
Ohad Marani was presented with the US conditions for transferring the
loan guarantees, Israeli sources said on Sunday.
The Israeli delegates failed to reach an agreement with their
American counterparts on a $12 billion aid package from Washington; in
addition to the $3 billion military aid it receives annually from its
However, Ha’aretz relayed that the US Congress had approved $9
billion in loan guarantees and $1 billion in security aid to Israel a
few weeks ago despite its ally’s use of American weapons in its
aggressive war against the Palestinian people.
Israel has used such advanced weapons in aggressive military
actions against Palestinian civilian population areas, in violation to
a US-set condition that these weapons be used only in protecting the
>From F-16s fighters to Apache attack helicopters, Israeli
Occupation Forces (IOF) have constantly used such American-manufactured
weapons in its war against Palestinian civilians.
Many innocent civilians and passersby have been killed over the past two years by these powerful weapons.
Nevertheless, the guarantees agreed upon are to be given in three
installments over a three-year period, at a rate of interest linked to
the US government bonds on the day of issue.
The US President will have the right not to approve any new Israeli
issue of guarantee funds if Israel fails to keep its commitment to
implement its economic austerity plan.
Israel is already the biggest recipient of US foreign aid, receiving nearly three billion dollars annually.
Since 1973, Israel has burdened its chief ally, the US, with over
$1.6 trillion aid-worth, according to report published by a leading
American consulting economist in Washington last year.
If divided by today’s population, that would cost every US citizen
more than $5,700, said Thomas Stauffer, whose analysis of the Middle
East scene has for decades sparked Israeli lobby anger.
Stauffer’s report shows that the total cost of the ongoing
US-Israeli liaison has cost the American administration double what it
cost it during the Vietnam War.
-[Palestine Media Center (http://www.palestine-pmc.com/).] Published at the (http://www.palestine-pmc.com/)