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Kuwait's Dar may use $5bn rescue facility
- Kuwait: Tuesday, March 09 - 2010 at 11:03
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.
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StaffTuesday, March 09 - 2010 at 11:03 UAE local time (GMT+4)
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