Kuwait’s government has signed an agreement to support ongoing fiscal reforms in Bahrain, the Ministry of Finance announced on Tuesday.
Last year, Kuwait – along with the UAE and Saudi Arabia – announced a $10 billion financial aid package to Bahrain to prevent the country from falling into a debt crisis.
A report in the state-run Kuwait News Agency (KUNA) said the Bahraini and Kuwaiti finance minister, in addition to the Arab Monetary Fund and the Kuwait Fund for Arab Economic Development, signed a “multi-party cooperation framework”.
The framework, KUNA added, “formalises a previously agreed package for supporting the economic reforms and financial stability of the Kingdom of Bahrain.”For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.