#Bahrain Is Set to Receive $2.3 Billion From Allies in 2019 - Bloomberg

Bahrain Is Set to Receive $2.3 Billion From Allies in 2019 - Bloomberg:

Bahrain said it will receive about $2.3 billion this year from a five-year support package provided by its Gulf Arab allies as the island-kingdom seeks to reduce its budget deficit and debt.

The sum is roughly in line with the amount received in 2018, according to Bahrain’s Finance Ministry. The $10 billion package was made available by Saudi Arabia, the United Arab Emirates and Kuwait in 2018 to help avert a currency devaluation that could have reverberated across the region.

The ministry’s announcement is the first that offers details about the aid package, which has helped slash Bahrain’s borrowing costs and restore investor confidence. After struggling to tap international debt markets at some point last year, the kingdom is now planning to sell bonds in the second half of 2019, according to people with knowledge of the matter.