EU budget chief eyes more financial cooperation with Kuwait

The European Union’s (EU) budget chief said on Monday it was imperative to bolster financial and economic cooperation with Kuwait, citing the country as a major investor in the single-currency bloc. Discussing the global economy’s rebound from the COVID-19 pandemic with top Kuwaiti officials, European Commissioner for Budget and Administration Johannes Hahn expressed the bloc’s eagerness to keep Kuwaiti investments in the EU flowing.

He underlined EU and global efforts to cushion the economic blow from the COVID-19 pandemic, including a European recovery plan worth two trillion euros to set the recovery process in motion, describing the essence of the scheme as a “stimulus package.” A separate EU fund, worth more than 800 million euros, called “Next Generation EU,” aims to pump money into green projects across the fields of energy, climate and the environment, he added. The visiting EU budget chief had earlier held talks with Kuwait’s central bank governor Dr. Mohammad Al-Hashel and senior finance ministry officials, focusing on matters of mutual concern.(KUNA)