|24 March, 2020

Bahrain approved $11.3bln economic package to offset the impact of Covid-19

Eight financial initiatives by govt include a waiver on electricity and water bills for all accounts – including individuals and commercial

Image used for illustrative purpose. Bahrain. Modern buildings in Manama skyline.

Image used for illustrative purpose. Bahrain. Modern buildings in Manama skyline.

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Manama: The Cabinet has approved an economic package worth BD4.3 billion announced last week to offset the impact of the Coronavirus Disease (Covid-19).

The eight financial initiatives include a waiver on electricity and water bills for all accounts – including individuals and commercial – for three months and a delay of bank loan instalments for six months for those impacted by the virus.

The session was chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier.

The other initiatives include doubling the Liquidity Fund to BD200 million, and exempting tourism facilities from tourism fees for three months among others.

An urgent legislation withdrawing excess from the Unemployment Fund to support the wages of Bahrainis in the private sector for the next three months has been referred to the National Assembly.

It aims to support 100,000 Bahrainis at a cost of BD215m.

Both Parliament and the Shura Council will have two weeks to review and vote on the legislation or it is considered ratified by His Majesty King Hamad.

- The Cabinet extended congratulations and good wishes of health and long life to His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa on his safe return to Bahrain after successful medical check-ups in Germany.

The Premier’s dedicated efforts to serve the nation and citizens and his contribution to Bahrain’s development were also hailed.

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