Israeli Companies’ Love-Hate Relationship with U.S. FMF The latest 10-year, $33 billion U.S. Foreign Military Financing (FMF) agreement with Israel that took effect on Oct. 1 is worrisome to some in Israeli industry, who fear a loss of footing on the international market.  The memorandum of understanding says Israel’s ability to convert 26.3% of the annual FMF grants from U.S. dollars to Israeli shekels for use in-country will gradually be phased out, concluding at ...

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