Israel said it will proceed with its largest-ever defense deal after the US gave approval allowing Germany to purchase the Arrow 3 air-defense system as part of a $3.5 billion agreement.
(Bloomberg) — Israel said it will proceed with its largest-ever defense deal after the US gave approval allowing Germany to purchase the Arrow 3 air-defense system as part of a $3.5 billion agreement.
After receiving the US government’s backing, Israel’s Defense Ministry said on Thursday that senior officials from Israel and Germany will take part in a ceremony to sign a letter of commitment. The Arrow 3 interceptor, manufactured by Israel Aerospace Industries, is being jointly developed by Israel and the US.
Once Israel and German parliamentary approvals are received, the full contract will be ready to sign by the end of 2023, the Defense Ministry said. The allocated commitment of $600 million will enable the immediate start of work on the project, it said.
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