Despite misgivings over US President Barack Obama’s Mideast agenda and deep-rooted doubts about his ability to prevent a nuclear-armed Iran, the Israeli government is taking the US president at his word that it can expect another decade of military aid.

In fact, it’s banking on it.

After many months of internal debate and bureaucratic resistance from the Israeli Treasury, Defense Minister Moshe Ya’alon has government approval to take on more than $2 billion in commercial debt for near-term buys of V-22 tilt-rotor aircraft and other Pentagon-approved weaponry.