Bahrain to spend US$ 3 bn of Gulf Development Fund for housing, electricity and water projects this year

Posted on 5th August 2014

It was revealed in a meeting of the Bahrain cabinet on August 3 that US$ 3 billion of thee US$ 10 billion funding by the GCC states under the Gulf Development Fund to Bahrain for reconstruction and development would be spent by the end of this year. Of this nearly US$ 2 billion has already been allocated with housing projects receiving a lion's share of 37 percent.

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According to reports in the Gulf Daily News, Bahrain would continue to assign top priority to housing, followed by electricity and water facilities, expansion of Bahrain International Airport, sewage, roads and education. His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier chaired the cabinet session for the first time, which focused on Bahrain's growth and development strategies.

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