Title : President Trump Wants To Convert Some Military Grants To Other Countries Into Loans
link : President Trump Wants To Convert Some Military Grants To Other Countries Into Loans
President Trump Wants To Convert Some Military Grants To Other Countries Into Loans
Defense News: FY18 budget request cuts $1B from State's Foreign Military Financing
WASHINGTON — The White House fiscal 2018 budget request cuts more than $1 billion from the U.S. State Department's Foreign Military Financing program, with the majority of countries fighting over a pot of about $200 million in funding.
The cuts, first reported by Defense News, come hand in hand with a new push to move FMF funding into a loan program that critics say will drive allied nations to look elsewhere for defense procurement.
Foreign Military Financing has largely taken the role of a grant given to U.S. allies to allow them to buy defense equipment. With the exception of Israel, all countries that receive FMF have to spend it on goods made in the United States, a boost for the domestic defense industry.
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WNU Editor: The two countries that will be severely impacted by these cuts are Pakistan .... Pakistani military feeling the Trump pressure (DW), and Ukraine .... US to switch from free military grants to loans for Ukraine & others (RT).
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