U.S. extends $4 billion in loan guarantees to Israel
The United States extended nearly $4 billion in loan guarantees to Israel through 2016.
U.S. Treasury Secretary Timothy Geithner and his Israeli counterpart Doron Cohen signed the agreement on Wednesday in Washington.
In 2002, during the global recession, the U.S. had approved $9 billion in loan guarantees that allow Israel to sell bonds internationally with the backing of the United States.
As part of the deal, Israel also must hit certain economic targets regarding the size of budget deficits and levels of government spending.