Kuwaiti Aid Boosts Bahrain's Power Infrastructure with $102 Million Loan

The Kuwait Fund for Arab Economic Development has granted a fourth loan of $102 million to Bahrain to support the ongoing development of its electricity network, according to Kuwait's state news agency KUNA on Sunday (June 9).

This loan is part of a broader initiative by the Kuwaiti fund to bolster Bahrain's 400-kilovolt electricity transmission networks, as noted by KUNA. The financial support is a segment of a larger $10 billion aid package pledged by Kuwait, Saudi Arabia, and the UAE in 2018 to help Bahrain avert a looming debt crisis.

The agreement was formalized during a meeting between Bahrain’s Minister of Finance and National Economy, Sheikh Salman bin Khalifa Al Khalifa, and Walid Shamlan Al Bahr, the Acting Director General of the Kuwait Fund for Arab Economic Development, who was visiting Bahrain. Also present was Kuwaiti Ambassador to Bahrain, Shaikh Thamer Jaber Al Ahmad Al Sabah.

This significant loan will finance the enhancement of Bahrain's 400-kilovolt transmission line, aimed at improving the capacity and efficiency of the country's electrical grid. The project is expected to ensure the reliable and cost-effective transmission of energy across Bahrain.

Source: Gulf Business