Oct 25, 2012
The United States extended its $4 billion loan guarantees to Israel by another four years on Wednesday.
U.S. Secretary of the Treasury Timothy Geithner and Doron Cohen, the director general of Israel’s Finance Ministry, signed an agreement extending the loan program until 2016.
According to the agreement, signed during a U.S.-Israel Joint Economic Development Group meeting in Washington, the United States will continue to provide loan guarantees, designed to boost Israel’s economic stability, provided it meets specific fiscal targets.
Finance Minister Yuval Steinitz thanked his American counterpart on Wednesday and praised his commitment to economic cooperation with Israel.