New $39M-Worth Kuwait Grant to Fund Bahrain Development Projects
2017-04-19 - 7:33 p
Bahrain Mirror: The Kuwait Fund for Economic and Arab Development signed two grants assigned by the government of Kuwait as part of the Gulf Cooperation Council (GCC) program to fund development projects in Bahrain. The grant is worth $39 Million, according to Kuwaiti News Agency (Kuna).
In a press release, the Kuwait fund said that the first grant worth $19 million was assigned for a social care complex project in Hamad Town, while the second grant worth $ 20 million will contribute to establishing the inclusive social services complex in Isa Town.
The grant said that it had provided the Kingdom of Bahrain with 17 loans worth 15 million Kuwaiti Dinars (around $551 million), in addition to 13 grants worth 34 million Kuwaiti dinars to fund education, health, agricultural, power, and social services projects.
Two grants were signed on behalf of the Bahraini king by Minister of Finance Ahmad bin Mohammad Al Khalifa, and on behalf of the Kuwaiti Fund, its General Director, Abdul Wahab Al-Bader.
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