Private sector will be involved in such Projects mainly through BOT schemes.ģ Consequently, banking sector will have the appetite to provide credit lines for such Projects as long as government support is there. The plan aims at decreasing the country s dependence on oil but also to includes investment on raising oil and natural gas production, it aims as well for turning Kuwait into a regional trade and financial hub through sustaining economic development, economic diversification and GDP growth. The plan, which includes a total of 1,100 Projects among them lots of Mega Projects, was approved with estimated KD37bn (US$125bn) of spending focusing on both oil and non oil economic sectors.Ģ Kuwait has announced spending in the 2010/2011 fiscal year about 16 billion Kuwaiti dinars ($ billion), and it will base its 2010/2011 budget on an oil price of $43 a barrel. This is a move that almost everybody was calling for to revive the Kuwaiti economy facing recessionary pressures since September 2008. 1 1 ANNEX A Kuwait Mega Projects 2010-2014 Kuwait five - year plan Overview: Finally and in a move described as historic, the Kuwaiti national assembly initially approved the development plan up to 2013/14 the first plan since 1986.
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