Kuwait approves law to guarantee bank loans for pandemic-hit businesses

Published 30 Mar,2021 via Arab News - Economy DUBAI - Kuwait approved draft laws to help businesses affected by the coronavirus pandemic, state news agency KUNA reported.

Lawmakers approved a bill to secure guarantees for local banks to extend loans to businesses that have been affected by the pandemic.

All 33 MPs in attendance backed the bill.

The parliament also agreed to allow citizens that had been affected to delay repayments to both public and private institutions for six months .

Governments worldwide have been forced to intervene to help support struggling businesses over the last year by offering subsidized wage schemes, tax breaks other financial supports in an effort to stave off widespread bankruptcies.

Copyright © Saudi Research & Publishing Co. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)

DISCLAIMER: This content is provided to us “as is” and unedited by an external third party provider. We cannot attest to or guarantee the accuracy of information provided in this article from the external third party provider. We do not endorse any views or opinions included in this article.