Kuwait has emerged as the first Gulf Cooperation Council (GCC) state to make good on the promised financial assistance to Bahrain. In retrospect, four GCC countries agreed in 2011 to provide financial support of $10 billion (Dh36.72 billion) each to Bahrain and Oman over a span of 10 years.
The extraordinary scheme, dubbed GCC’s ‘Marshall Plan’, was approved following outbreak of unrest in Bahrain and Oman in the first quarter of 2011. Demonstrators in both countries, notably in Bahrain, pressed the authorities to find solutions to outstanding socio-political challenges such as greater participation in decision-making and broad socio-economic problems.
The Kuwaiti financial aid amounts to $2.5 billion and to be provided in tranches of $250 million over a span of 10 years.
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