Israel and Greece have signed the biggest defense agreement in the history of their bilateral relations, worth approximately $1.6 billion, the Israeli Defence Ministry announced on Sunday.

According to the Defense Ministry, the agreement was signed on Friday with Israel represented by the head of the International Defence Cooperation Directorate (SIBAT), retired Brig. Gen. Yair Kulas. Per the agreement, the Israeli Defense Ministry and Elbit Systems will spearhead the creation of an international flight training center that will have 10 M-346 training aircraft manufactured by the Italian aerospace company Leonardo.

​Israeli Defense Minister Benny Gantz praised the agreement, stating that it would strengthen the economies of both countries and thus deepen defense, economic, and political cooperation.