FINANCIAL NEWS

Bahrain allocates $1.7b for housing services

22 Dec 2010

(MENAFN) Bahrain’s Prime Minister, Prince Khalifa bin Salman Al Khalifa, unveiled the Kingdom�s plans to spend $1.687 billion to bolster housing services and provide allowances for needy families whose homes are being renovated, Trade Arabia reported.

According to Prince Khalifa, the funds will be utilized for the improvement of housing and health services, providing training opportunities and supplying more jobs for Bahraini citizens.

The Premier also revealed plans to upgrade Bahrain’s financial and banking sector, improve the welfare state, enhance the private sector and increase overseas investment.

Moreover, the government is keen on alleviating housing burdens, and in accordance with the housing allowance scheme, it has appropriated an additional $412.3 million, to boost this sector, he added.

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