Israel and Greece signed a massive defense agreement Monday worth approximately 3 billion euros — more than $3.5 billion — under which Israel will build a multi-layer air defense network for Greece.

The agreement is the largest defense export deal ever signed between Israel and Greece and ranks among the largest defense deals in Israel’s history.

The program, known in Greece as the “Achilles Shield,” is designed to protect the country against a range of threats, including ballistic missiles, aircraft and drones.

The new network will incorporate several Israeli-made defense systems, including Rafael’s David’s Sling and SPYDER systems, as well as Israel Aerospace Industries’ BARAK MX. Greece will also receive advanced MMR multi-mission radar systems manufactured by IAI’s ELTA division.

Rafael will additionally lead the development of a new national command-and-control system that will integrate Greece’s various air defense capabilities.

The agreement was signed at Israel’s Defense Ministry in Tel Aviv by Defense Ministry Director-General Maj. Gen. (res.) Amir Baram and Greek defense procurement chief Ioannis Bouras.

In a separate agreement signed alongside the massive air defense deal, Greece will purchase Rafael’s DRONE DOME counter-drone systems for approximately 26 million euros, or roughly $30 million. The systems will be used to protect strategic sites against drones and other unmanned aircraft.

The growing defense partnership is also expected to include increased cooperation between Israeli and Greek defense industries, including the transfer of knowledge and technology to Greek companies.

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