In short, these programs represent the breadth of the US Government Sponsored Military Financing.
FMS is a grant program administered through the Defense Security Cooperation Agency (DSCA), with final consent by the US State Department that promotes security cooperation between the US and its allies, Israel, in particular.
For qualified FMS customers, the US Congress allocates funding through foreign military financing (FMF). Approved by the State Department and managed by Defense Security Cooperation Agency, FMF funding is a non-repayable loan lawfully granted to strategic allies – specifically Israel, Egypt, Afghanistan, and Iraq. While FMS applications must have departmental permission, they are excluded from the export licensing process.