The new measure is among many the Government of Kuwait, chaired by His Highness the Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah, have introduced to increase housing loans for the purchase of lots and homes, or renovation, reports state news agency KUNA.
The Government also assigned the Credit and Saving Bank to increase renovation loans for houses offered by the Government from KWD 25,000 to KWD 30,000, while renovation loans for private houses from KWD 30,000 to KWD 35,000, reported the news agency, citing a statement from Minister of State for cabinet affairs and minister of state for municipal affairs Sheikh Mohammad Abdullah Al-Sabah.
The bank needs to take appropriate measures to increase housing loan from KWD 70,000 to KWD 100,000, KUNA quotes Sheikh Mohammad as saying.
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