KUWAIT CITY, March 11, (KUNA): Total loans in February were estimated at KD 22.6 million ($73 million) distributed into real estate loans, women’s loans, grants and portfolio, Kuwait Credit Bank (KCB) said.
KCB noted in a specialized statistical report that the loans included advances for constructions in the amount of KD 1.1 million ($3.5 million). It pointed out that the loans were allocated for the construction of government lands in the amount of KD 14.8 million ($136 million).
The expansion and restoration of private housing provided loans worth KD 172,000 ($560 thousand) while the expansion and restoration of government housing loans amounted to KD one million ($3.2 million), it added.
Kuwait Credit Bank is a public institution with an independent legal figure under the supervision of the Minister of State for Housing Affairs in accordance with Decree 81/ 2007. The KCB grants housing loans to citizens and other services.