Israel to receive $10 Billion in US military aid in next 10 years

US and Israel in $30bn arms deal

Israel and the US are increasingly alarmed by Iran's growing power

US Undersecretary of State Nicholas Burns has signed a deal that will provide Israel with $30bn (£14.8bn) of military aid over the next 10 years.

The Israeli prime minister, Ehud Olmert, has said the aid will preserve his country's military advantage over other countries in the Middle East.

The new military aid package represents a 25% increase from present levels.

The US announced multi-billion-dollar arms deals with Saudi Arabia, Egypt, and other Gulf states last month.

Washington says it wants to help its allies in the Middle East meet their security needs and counter the growing power of Iran in the region.