Washington, DC - Today, as we enter the new fiscal year, the ten-year period of the $38 billion Memorandum of Understanding (MOU) signed by the United States and Israel in 2016 begins.

Under the terms of the MOU, the United States will set funding for Israel at levels of $3.3 billion in Foreign Military Financing and $500 million for cooperative programs for missile defense over each of the next ten years, a significant increase enabling Israel to acquire additional advanced military capabilities from the United States that will, over time, enhance Israel’s security and strengthen our bilateral relationship. Our implementation of this historic MOU reflects the enduring and unshakable commitment of the President, this Administration, and the American people to Israel's security. The MOU was negotiated under the previous Administration, reflecting the bi-partisan nature of this commitment. Israel is a valuable and capable ally to the United States that today faces dangerously escalating regional threats, first and foremost from the Iranian regime's sponsorship of terrorist groups seeking to attack not only Israel but also American interests. Israel is also threatened by the reckless proliferation of destabilizing weapons systems into the region that increase the possibility of an escalated conflict in an already dangerous and volatile theater. The United States unconditionally affirms Israel's right to self-defense, and this MOU is a concrete demonstration of our commitment to Israel's capacity to defend itself with a qualitative military edge over all potential regional adversaries.