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Last update - 14:36 24/12/2005   

U.S. Congress approves transfer of $600 million in aid to Israel

By Haaretz Service

The United States Congress approved Friday the transfer of $600 million in aid to Israel, according to media reports.

The reports state that the money is to be used to fund joint security projects between Israel and the U.S.

Of the $600 million, $133 million will be used to develop the Arrow missile program, a collaborative project between Israel Aircraft Industries and Boeing.

 

Some $10 million will be invested in developing a missile capable of intercepting short-range missiles.

Israel carried out a successful test of its Arrow anti-missile system earlier this month, which Defense Ministry officials called a response to the increasing threat of ballistic missiles in the region.

The test launch came as a Russian newspaper reported that Iran has signed a deal to buy Russian tactical surface-to-air missile systems. The reports comes one day after Prime Minister Ariel Sharon warned of the dangers of a nuclear Iran.

http://www.haaretz.com/hasen/spages/661833.html

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