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FINANCIAL NEWS
Kuwait supports Oman with USD2.5b aid over 10 years
28 May 2013
(MENAFN) Kuwait supported Oman with USD2.5 billion in order to fund development projects within the GCC’s regional program initiated in 2011, reported Arabian Business citing Oman’s state news agency.
In 2011, USD10 billion were granted to Oman and Bahrain by rich oil exporting Gulf countries over a period of 10 years in order to support economic development.
The agency said that this regional program is planned to fund water, electricity and rail projects.
It’s worth noting that in the six-nation GCC, Oman and Bahrain are the poorest.
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