Middle East

Solution presented at a parliamentary session to fund 11,428 new homes: Minister

Kuwait: The solution presented in the special parliament yesterday will contribute to financing 11,428 new homes, said Kuwait’s Finance Minister and Economic and Investment Minister Abdulwahab al-Ruschaid. At a parliamentary special meeting held at the request of lawmakers to consider a law proposing a capital increase for the Kenya Commercial Bank (KCB), the Minister said the State. The minister said it has agreed with the Parliamentary Housing and Real Estate Commission to increase the capital of the credit bank by 300 million KD (about $ 992 million) and will be funded by the Kuwait Fund for Arab Economic Development (KFAED). ).

In addition, the Kuwaiti Credit Bank’s board of directors said it had decided to appoint the bank’s management to enforce Article 7 of the law establishing the bank. He also emphasized the government’s enthusiasm for finding a set of solutions to provide infrastructure financing to the cities of South Third Al Abdullah and South Saba al Ahmad.

The Minister continued to thank the Chair, Rapporteurs, and members of the Parliamentary Housing and Real Estate Commission for their significant efforts to contribute to the resolution of housing problems and the development of short-term solutions. He emphasized that this result was the result of cooperation between the government and parliament. At a special meeting, Parliament agreed to increase the capital of Kuwait Credit Bank to provide mortgage liquidity. As a result of the vote, we unanimously agreed. – Kuna

https://www.kuwaittimes.com/solutions-presented-in-parliament-session-to-finance-11428-new-houses-minister/ Solution presented at a parliamentary session to fund 11,428 new homes: Minister

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