The Israeli cabinet on Wednesday reviewed the new missile defense plan that will allocate additional $8.1 billion to Israel’s defense budget for the next ten years.
The majority of the funds will be invested in expanding the Israeli military’s missiles arsenal and ballistic defense systems, Israeli daily Yedioth Ahronoth report was quoted by Calcalist Friday.
The plan is spearheaded by Israeli Prime Minister Benjamin Netanyahu and the country’s Finance Minister Moshe Kahlon.
While the plan addresses all of Israel’s homeland security operations, Yedioth Ahronoth cited Kahlon as saying its primary objective is to protect Israel from ballistic threats.
In July, Yedioth Ahronoth first reported on the plan as it was taking shape, saying it is the result of an understanding that the next wide-scale conflict involving Israel will include massive missile attacks capable of reaching all areas in the country.
According to an April report by the Congressional Research Service, a public policy research arm of the United States Congress. The US agreed to provide $38 billion in military aid to Israel in 2019-2028. A Memorandum of Understanding, signed in 2016, replaced a previous 10-year, $30-billion agreement that ends this year. The report states the Trump administration has asked that of the $38 billion sum, $3.3 billion in foreign military financing and $500 million in missile defense aid will be provided to Israel in 2019.