Germany Says Will Help Finance Four New Israeli Warships

BERLIN (Reuters) -

Germany plans to finance part of the cost of four new corvette warships for the Israeli navy made by German firm Thyssen Krupp under a deal struck in November, the government said on Monday.

Following approval by the German parliament’s budget committee, the contract could be finalized before the end of this year, government spokesman Steffen Seibert said.

The mass-circulation Bild am Sonntag newspaper reported on Sunday that Berlin had earmarked up to $ 142 million for the warships — which would cost around $1.2 billion in total.

Seibert declined comment on the size of the German contribution.