Kuwait's Dar may use $5bn rescue facility

09 March 2010

Kuwaiti sovereign wealth fund Investment Dar is considering along with creditors to use a $5.2bn state rescue facility. The Islamic investment firm said in a statement that the government's aid package would set the legal framework for its restructuring process, amid the dissent of some creditors and investors that have opposed its restructuring plan The rescue package, called the 'financial stability law', guarantees 50% of fresh loans banks provide to local firms as part of a plan to soften the impact of the global credit crunch.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications