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Wednesday, July 21, 2010

Germany reconsiders funding Israel's latest submarine

Dolphin classThe American weekly Defense News reported on Tuesday that Germany has reconsidered providing funding for a sixth submarine for the Israel Navy, even though it expressed a willingness in the past to help finance the project.

The publication said the Germans had told Israel that, despite expectations, Germany would not fund about one-third of a $1.6 billion transaction that includes Israel's sixth Dolphin-class submarine and two warships made in Germany.

Germany funded more than 80 percent of the cost of Israel's first three Dolphin submarines in the 1990s, and is currently accounting for a third of the cost of two more submarines being manufactured in Germany.

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