SME loan guarantee – ARAB TIMES


KUWAIT CITY, March 16: The Kuwaiti Cabinet has approved a bill on supporting and guaranteeing local bank loans to customers affected by the coronavirus measures. The Cabinet approved the bill, which was proposed by its economic committee, and referred it to His Highness Deputy Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, the foreign minister said and Minister of State for Cabinet Affairs, Dr Sheikh Ahmad Nasser. Al-Mohamad Al-Sabah in a statement following the virtual Cabinet meeting.

The Cabinet also tasked the Minister of Trade and Industry to coordinate with the Ministry of Finance, the Kuwait Investment Authority, the Central Bank of Kuwait, the National Fund for the Supporting Small and Medium Enterprises, the Kuwait Economic Society and other relevant bodies to propose a series of bills and executive measures to support small and medium-sized businesses and mitigate the impact of the pandemic on them.

Earlier, His Highness Prime Minister Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah briefed the Cabinet on recent reassuring medical examinations of His Highness Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah in the United States. His Highness the Prime Minister and the other ministers wished His Highness the Amir eternal well-being. Health Minister Dr Sheikh Bassel Al-Sabah briefed Cabinet on the epidemic situation in the country. In his presentation, the minister exposed that the daily increase in the number of infections and deaths from coronavirus is still high. He also noted that the number of hospitalizations and occupants of intensive care units was also increasing despite the lockdown measures imposed and the nighttime curfew. He stressed that this situation requires more vigilance and respect for preventive measures. (KUNA)

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