Bulgaria Makes F-16 Payment

The Bulgarian Ministry of Defence (MoD) announced on its website on 12 August that it had transferred USD1.2 billion to the US Defense Security Cooperation Agency (DSCA) on 8 August for the procurement of F-16 Block 70 combat aircraft. The ministry said the DSCA's confirmation of receipt marks the related contracts' entry into force and the...

The Bulgarian Ministry of Defence (MoD) announced on its website on 12 August that it had transferred USD1.2 billion to the US Defense Security Cooperation Agency (DSCA) on 8 August for the procurement of F-16 Block 70 combat aircraft.

The ministry said the DSCA's confirmation of receipt marks the related contracts' entry into force and the beginning of their implementation. The contracts, which cover the US Foreign Military Sale (FMS) of eight F-16 Block 70 fighters and related equipment, maintenance, and services to Bulgaria, were signed by Defence Minister Krasimir Karakachanov on 11 July and approved by parliament on 19 July.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes

Source: www.janes.com