Israel’s Defense Ministry announced this morning that it is set to sign a $1.68 billion security agreement with Greece effective for 20 years. According to the statement, the Greek government had just approved the deal. No date has been given for the signing, which will include representatives of both defense ministries and of the Israel-based international defense electronics company Elbit Systems.

The deal reportedly includes the procurement by Greece of 10 M-346 aircrafts, maintenance for T-6 aircrafts and the provision of simulators, training and logistical support, all part of a flight school for the Hellenist Air Force to be operated by Elbit Systems. The school will be modeled after the Israel Air Force flight academy.

Elbit Systems tweeted, “As part of an agreement [between the Israeli Defense Ministry and the Greek Defense Ministry], we were selected for the $1.68 billion Flight Training Program of the Hellenist Air Force."

Brig. Gen. (res.) Yair Kulas, head of the Directorate for International Defense Cooperation in the Defense Ministry, congratulated both countries on the deal, stating, “The Greek government’s approval of this agreement is a historic step in further deepening the excellent defense relations between our two countries. This is not just a defense export agreement, but rather a partnership for at least 20 years. I would like to thank the Greek Ministry of National Defense for its trust and for assigning this important task to the Israel Ministry of Defense and our excellent defense industry.”