President Barack Obama today announced an unprecedented $5 billion commitment in missile defense assistance to Israel in a $38 Billion Foreign Military Financing (FMF) memorandum of understanding reached with Israel. This is a tremendous and notable commitment by the United States, lead by President Obama for the long term security of Israel from missile threats in the region, as well as relieve the United States Missile Defense Agency’s annual budgets in their considerable funding for Israel. It is a commendable action by the President of the United States Barak Obama and by the Prime Minster of Israel Benjamin Netanyahu.

Statement by the President on the Memorandum of Understanding Reached with Israel

As I have said repeatedly, America’s commitment to Israel’s security is unshakeable.  Over the past eight years, my Administration has time and again demonstrated this commitment in word and deed.  Since Fiscal Year 2009, the United States has provided Israel with $23.6 billion in Foreign Military Financing (FMF) funds and another $3.4 billion in funding for missile defense.  The new 10-year Memorandum of Understanding (MOU) on security assistance that my Administration signed with the Government of Israel today is just the most recent reflection of my steadfast commitment to the security of the State of Israel.  The new MOU constitutes the single largest pledge of military assistance in U.S. history, totaling $38 billion over 10 years, including $33 billion in FMF funds and an additional $5 billion in missile defense funding. Both Prime Minister Netanyahu and I are confident that the new MOU will make a significant contribution to Israel’s security in what remains a dangerous neighborhood.  The continued supply of the world’s most advanced weapons technology will ensure that Israel has the ability to defend itself from all manner of threats.

For as long as the state of Israel has existed, the United States has been Israel’s greatest friend and partner, a fact underscored again today. This commitment to Israel’s security has been unwavering and is based on a genuine and abiding concern for the welfare of the Israeli people and the future of the State of Israel.  It is because of this same commitment to Israel and its long-term security that we will also continue to press for  a two-state solution to the longstanding Israeli-Palestinian conflict, despite the deeply troubling trends on the ground that undermine this goal. As I have emphasized previously, the only way for Israel to endure and thrive as a Jewish and democratic state is through the realization of an independent and viable Palestine.  Ultimately, both this MOU and efforts to advance the two-state solution are motivated by the same core U.S. objective that has been shared by all administrations, Democratic and Republican, over the last several decades – ensuring that Israelis can live alongside their neighbors in peace and security.