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Yahoo! News   Tue, Mar 25, 2003
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Politics - AFP
Bush's Iraq plan includes 10 billion for Israel
Tue Mar 25, 6:47 PM ET

WASHINGTON (AFP) - US President George W. Bush (news - web sites) formally unveiled an emergency spending bill to cover costs tied to the war on Iraq (news - web sites) which would also provide some 10 billion dollars in aid to Israel.

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If lawmakers approve the plan, Israel will receive one billion dollars in military financing and additional loan guarantees of nine billion dollars, the conditions of which are still being negotiated, the State Department said.

The total measure, which the White House wants lawmakers to approve by April 11th, totals 74.7 billion dollars to defray costs over the life of fiscal year 2003, which ends September 30.

The package stipulates that the loan guarantees to Israel, not to exceed nine billion dollars, would be available only to support activities in areas "subject to the administration of the Government of Israel before June 5, 1967," the outset of the Six-Day War.

Israel had sought a total assistance package of some 12 billion dollars, including eight billion in loan guarantees and four billion in military assistance.


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Next Story: No knockout blow in week-old war, but US happy with progress (AFP)

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