JERUSALEM, Nov. 20 (Xinhua) -- Israel's Defense Ministry said on Thursday that it signed a "multi-billion-dollar contract" with the state-owned arms manufacturer Rafael to ramp up production of Iron Dome interceptors.

The ministry said in a statement that the order is financed through 5.2 billion U.S. dollars earmarked by the U.S. Congress in 2024 to strengthen Israel's air-defense systems, including Iron Dome and David's Sling, as well as a high-energy laser now in final development.

According to the ministry, the contract will "significantly accelerate" the manufacturing of Iron Dome interceptors and supply the Israel Defense Forces with a "substantial" quantity to replenish stocks.

Defense Minister Israel Katz said the deal represents "a strategic leap" that will "substantially enhance the protection of Israel's skies."

Defense Ministry Director-General Amir Baram said the agreement is part of a strategic push to increase stockpiles and readiness for future escalations.

The contract was signed at a ceremony attended by senior officials from Israel, the U.S. Missile Defense Agency, and Rafael.

Iron Dome, jointly developed by Israel and the United States, is designed to intercept short- and medium-range rockets, missiles, and drones. Israel says the system has shown "exceptional" performance in recent conflicts, intercepting thousands of projectiles fired from Gaza, Lebanon, and other fronts. Enditem