Credit Bank: $42 million loans, grants in August

KUWAIT: Kuwait Credit Bank announced that overall loans in the property sector, for women and grants reached KD 12.8 million ($42 million) in August. The bank said in a statistical report released yesterday that total spent loans of the realty portfolios, during the same month, amounted to KD 49,000 ($161,000), noting that the granted loans for building private construction reached KD nine million ($29.7 million).

Loans for government construction units amounted to KD 12 million ($39.6) and houses’ purchase KD 2.6 million ($8.5 million). The bank report also noted that approximately 142,000 ($468,000) were spent for expanding and renovating private houses and KD 630,000 ($two million) for expanding and refurbishing government residences. Total grants for citizens of special needs amounted to $132,000 for expansion and renovation works and KD 9 ($29,007) for restoration works. – KUNA