US okays $155m arms package for Israel

Congress to grant Israel funds for production, development of Hetz, David mid-range defensive missile systems. Special funds given for development of long-range missiles aimed at Iranian threat

The US Congress on Wednesday approved a $155 million arms package for Israel, aimed at the development of the Hetz and David mid-range defensive missile systems and for the development long-range defensive missile systems.

The arms package is still pending the approval of the US House of Representatives and President George W Bush. The Israeli defense establishment was pleased with Congress' decision, which effectively increases Israel's missile development budget by 30%.

With the allocation of these new funds, the US would be investing some $98 million in the development of the Hetz defensive missile system: Thirty-seven million dollars will be directed towards the Hetz's production in a Boeing factory in the US and by the Israel Aerospace Industries (IAI), and $37 million for its continuing development.

The remaining funds are to be allocated for the development of long-range missile defense systems aimed at fighting the Iranian threat.

The US will also allocate $37 million for the development of the David mid-range defensive missile system, which is supposed to neutralize threats within a 25 to 125 mile radius, covering both the Hizbullah and Syrian missiles. The David missiles are not designed to fights Qassam or Katyusha rockets. Link