Excerpt from Foreign Assistance Appropriations
Israel has demonstrated a strong will to survive in freedom. We had hoped that recent agreements and arrangements in the Middle East would lead toward peace and make it unnecessary to provide large amounts of military assistance to any of the belligerents in the area. This hope has not yet been realized.
Continued large scale shipments of military equipment by the Soviet Union are a fact that cannot be denied. The buildup of the surface-m-air missile complex in the cease-fire zone west of the Suez Canal, in disregard of the cease-fire-standstill agreement, requires us to redress the imbalance it has caused.
As authorized by the Defense Procurement Act, I request that the Congress appropriate 8500 million to provide Israel with the credits that will assist her in the financing of purchases of equipment that have been necessary to maintain her defense capability, and to ease the economic strain caused by her expanded military requirements.
Sources: Public Papers of the President