The Israeli government agreed to offer the reward owing to the urgings of a special committee devoted to locating the missing navigator.
The committee, which was established two years ago, has been pressing the matter since its conception, but security forces objected until now, saying that such an initiative would interfere with other efforts to obtain information regarding the fate of Arad, Israel Radio reported.
According to Army Radio, the reward money would be funded in part by the government and in part by private contributions.
The station said the offer would be published worldwide on December 1.
