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.
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