You’re familiar with SWFs — and the damage they can cause in the wrong hands — but on Thursday Bloomberg carried news of what we’ll call a Sovereign Health Fund (SHF):
The Gulf Cooperation Council plans to set up a fund worth more than $10 billion, Kuwait’s foreign minister said, to help the rulers of Bahrain and Oman appease popular protest movements.
Reuters released more details Thursday afternoon; the amount pledged has doubled from earlier reports:
The job-generating measure, which will give $10 billion to each country to upgrade their housing and infrastructure over 10 years, was above the $10 billion to $15 billion indicated by officials during discussions this week.
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