Bahrain has started to receive funds from the six-member Gulf Cooperation Council as it seeks to spend its way out of a slowdown caused by political unrest which is blighting its services-orientated economy.
Sheikh Mohammed bin Essa Al Khalifa, chief executive of the Economic Development Board, says “a significant portion of the GCC funds” have arrived in the past few weeks, referring to the first elements of a $1bn tranche expected this year.
“We are spending on infrastructure, a lot on housing. We are looking at private public partnerships. There are a number of initiatives in the pipeline aimed at encouraging economic growth through social improvement,” he says.
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