KSA and UAE sign funding arrangements for Fiscal Support Agreement with Bahrain

Manama, Oct.4 (BNA): Two fiscal cooperation agreements have been signed between the government of the Kingdom of Bahrain and the governments of the Kingdom of Saudi Arabia and the United Arab Emirates agreeing funding arrangements following a Financial Support Agreement worth USD 10 billion that has been signed between the government of the Kingdom of Bahrain and the governments of the Kingdom of Saudi Arabia, the United Arab Emirates and the State of Kuwait, in coordination with the Arab Monetary Fund as an advisory body. The cooperation agreements set out the funding framework within the USD 10 billion agreement, building on the solid base of collaboration between Bahrain and the Kingdom of Saudi Arabia and the United Arab Emirates. The Cooperation Agreements were signed by Bahrain’s Minister of Finance His Excellency Shaikh Ahmed bin Mohamed Al Khalifa, His Excellency Mohammed bin Abdulla Al Jadaan, Minister of Finance of Saudi Arabia, and His Excellency Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs of the United Arab Emirates.