United States has signed a 38 billion dollars deal with Israel to provide the country with military assistance over a 10-year period. The deal is the largest such agreement the US has ever had with any country.

Under the terms, Israel will receive 3.8 billion dollars a year from the US, up from the 3.1 billion dollars Washington currently gives Israel annually under a 10-year deal that ends in 2018.

Following 10 months of tense negotiations, the two allies finalised the memorandum of understanding with a signing ceremony in Washington yesterday.

US President Barack Obama, in a statement, said, he and Irsael Prime Minister Benjamin Netanyahu are confident that the new MoU will make a significant contribution to Israel's security.

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