Friday, 11 March 2011

FT Alphaville » GCC launches a Sovereign Health Fund for Bahrain and Oman

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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