The American government approved the historic sale agreement of the Israeli "Arrow 3" system to Germany.
The Ministry of Defense announced that the final American approval, which was required to confirm the transaction between the countries, has now been received. Following this approval, the transaction between the countries will now proceed.
The "Arrow 3" system, developed and jointly produced by the "Homa" Administration at the Israel Ministry of Defense and the U.S. Missile Defense Agency, under the leadership of the Israeli Aerospace Industries, is an advanced air defense system in the world designed to intercept ballistic missiles in space, outside the atmosphere.
This is the largest security transaction ever in the history of the State of Israel. The transaction is expected to proceed as soon as possible, and the framework will entail Germany paying Israel around $3.5 billion, or approximately fourteen billion shekels, in exchange for the Arrow 3 system.
Following the American approval, the senior officials of the Israeli and German Defense and Security Ministries will convene for a signing ceremony of a commitment letter to initiate the transaction. The initial commitment will amount to six hundred million dollars, which will serve as an immediate start for the establishment of the project.
Minister of Defense Yoav Gallant published his response to the American approval and the progress of the transaction, stating: "The American approval received last night for the sale of the 'Arrow 3' interception system reflects confidence in the extraordinary capabilities of Israel's defense industries. This is a significant decision that will contribute to the technological and economic strength of Israel. For every Jew, there is a special meaning in Germany supporting Israel's defense. We take pride in our ability to execute the largest weapons transaction in the history of Israeli industry."
