Friday , February 22 2019

KPC requests to borrow from financial institutions

KUWAIT CITY, Dec 3: The Council of Ministers has instructed the Ministry of Finance, specifically the Public Debt Management Committee, to study the request of the Kuwait Petroleum Corporation’s (KPC) request to borrow from financial institutions to fund its capital programs during the next five-year plan, reports Al-Qabas daily quoting Cabinet sources, reports Al-Qabas daily.

The sources pointed out that the committee is responsible for borrowing from government agencies, whether borrowing from the local market or overseas. Sources said the KPC has presented its technical study to borrow 16 billion dinars to finance its capital programs during the next five-year plan 2018/2023 using public debt instruments

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