U.S. loan guarantees to Israel to be extended to 2016October 25, 2012 - 11:05 AMT PanARMENIAN.Net - U.S. Treasury Secretary Timothy Geithner and Israeli Treasury director-general Doron Cohen signed an agreement in Washington on Wednesday, Oct 24, that will extend U.S. loan guarantees to Israel to 2016, according to JPost. The agreement, signed on the sidelines of the U.S.-Israel Joint Economic Development Group (JEDG) forum, gives Israel four more years to use $3.8bn in guarantees left over from the $9bn in guarantees granted in 2003. The guarantees are conditional on Israel meeting deficit and expenditure targets and making economic reforms. Even if Israel does not take advantage of the loan guarantees, having American backing helps it obtain favorable rates on borrowing abroad. The guarantees come on top of more than $3bn in military assistance and joint U.S.-Israel missile defense projects. Top stories On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). Partner news | Armenia congratulates “friendly people of Belarus” on Independence Day The Armenian Foreign Mnisitry has congratulated the “friendly people of Belarus” on Independence Day. Armenian wrestlers win 3 medals at U20 European Championships The Armenian team has won 3 medals at the U20 European Greco-Roman Wrestling Championships. Ameriabank, COAF pool efforts to develop beekeeping in Lori COAF and Ameriabank have presented their joint program Harvesting Nature’s Bounty. Armenian, Georgian Foreign Ministers meet in Tbilisi The meeting of Ararat Mirzoyan and Ilia Darchiashvili, is underway in Tbilisi, the Armenian Foreign Ministry reveals. |