He told me that originally the requirement to use two billion of the three billion granted annually for Israel's defense for purchases in America was to insure that Israel would buy only American aircraft to make up their air force. At the time the endowment started, Israel had a number of French combat aircraft. As of years ago, Israel had an almost all American air force with more than 200 F-16's. Israel needs no more combat aircraft other than possible new models, so the money has been going into Israel's general fund. Because of this, no oversight is required.
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Suicide bomber responsible for Wednesday's attack on Tunisian bus that killed 13 (Reuters)
from the article: Israeli ministers back bills to limit funding for human rights groups