A $20 billion fund planned by wealthy Gulf Arab states to aid Bahrain and Oman has not been capitalised yet, but Bahrain expects to receive an allocation soon, a prospectus for the country's upcoming sovereign bond issue said.
"At the date of this prospectus, the Development Fund has not been capitalised," the Bahrain government said in the preliminary prospectus, dated June 19 and seen by Reuters on Wednesday.
Foreign ministers from six Gulf Arab oil exporting countries announced the fund's creation in March 2011, in order to help Bahrain and Oman combat social unrest spreading across the Middle East.
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