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October 25, 2012 8:45 am

US Loan Guarantees to Israel Extended to 2016

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Timothy Geithner.

JPost – US Treasury Secretary Timothy Geithner and Israeli Treasury director-general Doron Cohen signed an agreement in Washington on Wednesday that will extend US loan guarantees to Israel to 2016.

The agreement, signed on the sidelines of the US-Israel Joint Economic Development Group (JEDG) forum, gives Israel four more years to use $3.8 billion in guarantees left over from the $9b. in guarantees granted in 2003. The guarantees are conditional on Israel meeting deficit and expenditure targets and making economic reforms.

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