Ahead of US Secretary of Defense Chuck Hagel's visit to Israel next week, "AFP" reports that the US will invest an additional $400 million in Israel's Iron Dome short-range missile defense system over the next few years.
Despite US budget cuts in military spending, the US will spend an extra $220 million in the proven defense system in fiscal year 2014, and an extra $176 million in 2015. The Pentagon invested $204 million in Iron Dome in 2011 and $70 million in 2012
US President Barack Obama sent an Independence Day message to President Shimon Peres yesterday in which he pledged that future US policy will continue to aid Israel and that the "US has stood alongside Israel since the day it was established."
Meanwhile, an Iron Dome battery recently deployed near the Red Sea resort of Eilat did not intercept two grad missiles fired at the city this morning from Sinai. No damage to people or property was reported and the IDF said it is investigating the matter.
Published by Globes [online], Israel business news - www.globes-online.com - on April 17, 2013
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