Quote:
Originally Posted by JDRCRASH
There's already a thread on this. I should ask one of the mods to merge it with this one.
Either way, i'm not too surprised that this got approval. The real test is if it can obtain financing.
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Chairman of the General Federation of Banks Kuwait Hamad Al Marzouq that Kuwaiti banks ready to finance government projects coming under the law of development plan approved by the National Assembly finally distinguished. He added that the Kuwaiti banks, including their financial capabilities and significant technical enabled them to overcome the heaviest crisis in the world economy, to be able to meet the funding requirements for the next stage.
Marzouk noted that Kuwaiti banks had previously funded projects ably Milirip huge projects such as the Equate project sewage treatment and other vital projects and major development.
He stressed that the financing channels of sound must be through banks because of their professional experience credit and infrastructure, technical and high capacities of risk management.
Asked about recent reports that banks are reluctant to finance, Marzouq explained that this story is completely false, and that grant funding is at the core of the banking sector and the mainstay in the growth of its activity. He pointed out that the reluctance of banks to grant funding for a very limited number of companies due to the mismatch of financial conditions and credit of the company or those with sound credit conditions of the banks, and the lack of success of a company to obtain financing from banks, reflecting concern the company's ability to accomplish project successfully, which represents a first line of defense to ensure the safety and accuracy of the implementation of these vital projects, and thus achieve the objectives of bringing those projects.
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http://www.alqabas.com.kw/Article.as...&date=14022010
BTW, thats today news 14\2\2010