Bank Financing For Affected Clients To Handle Coronavirus Crisis

The council of Ministers discussed at the weekly meeting the committee’s recommendation on a draft law to ensure local banks finance clients affected by the repercussions of the coronavirus crisis. The law aims to motivate banks to provide the necessary financing to affected individuals and companies to prevent their occasional shortage of liquidity from turning into a chronic and protracted problem that affects their financial solvency. This move would help them to overcome the crisis and preserve the jobs for the national workforce.

The Cabinet also reviewed the follow-up report for the annual plan 2019/2020 after the final account, and in this regard heard an explanation by the Minister of Social Affairs and the Minister of State for Economic Affairs about the contents of the report, which comes in the fifth and final year of the medium-term development plan (2015/2016-2019 / 2020).
The report included six main parts, namely (following up on the implementation of the annual plan projects 2019/2020, strategic projects, the Silk City and the Islands project, legislative requirements, project implementation challenges, and following up on international indicators), in addition to the most important findings and recommendations.

The Council of Ministers expressed its thanks and appreciation for the sincere efforts made by the General Secretariat of the Supreme Council for Planning and Development in preparing this report and following up on the completion of the annual plan. The Cabinet decided to assign the Minister of Social Affairs and the Minister of State for Economic Affairs to refer it to the National Assembly.

 

Source: Timeskuwait

 

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