Israel announces $1.68 billion defense deal with Greece

Israel announces $1.68 billion defense deal with Greece

Israel and Greece are set to sign a $1.68 billion defense deal that includes the procurement of 10 M-346 (Lavi) aircraft and the establishment of a flight school for the Hellenic Air Force.

The Greek government approved the deal ahead of the signing, the Israeli Defense Ministry said in a press release on Tuesday.

“This agreement reflects the excellent relations that we are developing with Greece. This is a long-term cooperation, which will serve the interests of both Israel and Greece,” the Minister of Defence of Israel, Benny Gantz said.

The deal which will span for more than 20 years, also includes the maintenance of T-6 aircraft (Efroni), as well as the provision of simulators, training and logistics support.

It will create hundreds of jobs in both countries and promote stability in the Mediterranean.

“I thank the Greek Minister of National Defence and my friend, Nikos Panagiotopoulos, for the cooperation in promoting this project and its approval by the Greek government,” he added.

This is said to be the largest defense procurement agreement between the two countries to date.

*Read More: Greece and Israel agree on air force flight training centre in Kalamata
GCT Team

This article was researched and written by a GCT team member.