US Set to Provide Israel with Largest Military Aid Package Ever

— -- The United States government announced today it is set to deliver the largest military assistance package in US history to Israel.

The State Department said it will host a signing ceremony to mark a memorandum of understanding between the two countries on Wednesday.

"The United States has concluded a new 10-year Memorandum of Understanding (MOU) with Israel on security assistance for Fiscal Years 2019 through 2028," the Department said in an emailed statement to the press. "This MOU constitutes the single largest pledge of bilateral military assistance in U.S. history."

Officials would not immediately provide details of the deal, but the Reuters news agency is reporting the U.S. has pledged $38 billion over the 10 years -- or $3.8 billion a year -- an annual increase of $700 million. Israeli Prime Minister Benjamin Netanyahu had originally sought upwards of $4.5 billion a year, Reuters reported.