TEL AVIV, November 12. /TASS/. Israel has signed an ‘historic deal’ on selling a 317-million-euro missile defense system to Finland, the Israeli Defense Ministry said on Sunday.

"Defense Ministry Director General Eyal Zamir has signed an agreement on selling the David’s Sling system to Finland. The deal is estimated at 317 million euros," the ministry said in a statement.

The signing ceremony took place at the Israeli Defense Ministry’s headquarters in Tel Aviv with the participation of Finnish Ambassador Nina Nordstrom, it said.

The Israeli Defense Ministry announced on August 2 that the United States had approved the sale of the David’s Sling missile defense system developed by Israel’s defense manufacturer Rafael jointly with US specialists to Finland.

The Israeli Defense Ministry’s press office said at the time that the David’s Sling modification for delivery to Finland would be finalized with the participation of Finnish specialists and integrated into Finland’s troop command and control system.

The David’s Sling (Magic Wand) is designed to intercept missiles at short and medium ranges. Along with it, the Israeli airspace is defended by the Iron Dome air defense system designed to intercept short-range missiles and the Hetz (Arrow) missile defense shield intended to strike ballistic and long-range missiles.