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As part of a US$10bn GCC aid package, Bahrain has announced the launch of projects worth US$4.4bn to build homes and improve power facilities
This will help the upgradation of the island nation’s infrastructure and support the economy, according to Sheikh Khaled bin Abdullah Al Khalifa, deputy prime minister.
Khalifa said that around 49 per cent of the fund (US$ would be allocated to the construction of 9,232 homes in the next three years. The remaining US$2.24bn would be channelled into other projects covering the water and power sector, according to reports.
All the housing units would be financed by the three GCC funds — Kuwaiti fund for Arab economic development, Saudi development fund and the Abu Dhabi development fund.