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02/02/2020

Gulf Bank Announces Commitment to Kuwait Vision 2035 “New Kuwait”

Gulf Bank welcomes Dr. Khaled A. Mahdi, Secretary-General of the Supreme Council for Planning and Development of Kuwait

In collaboration with stakeholders in the public and private sectors involved in financing operations

Kuwait, 02 February 2020: Gulf Bank welcomed Dr. Khaled A. Mahdi, Secretary-General of the Supreme Council for Planning and Development (GSSCPD) of Kuwait, at the Bank’s Head Office to discuss Kuwait Vision 2035 “New Kuwait,” the national development plan that was developed by His Highness the Emir of Kuwait, Sabah Al-Ahmad Al-Jaber Al-Sabah. The purpose of the meeting was to discuss Gulf Bank’s role in financing current and upcoming national projects in order to achieve the country’s vision.

The Kuwait National Development Plan “New Kuwait” aspires to transform the country into a financial and trade hub that is attractive to investors. Under the new plan, the private sector leads the national economy, creating competition and promoting production efficiency. The development plan also aims to drive government institutions while safeguarding cultural values and protecting social identities. The plan aims to develop the country’s human resources while providing stakeholders with necessary infrastructure, advanced legislation and an inspiring business environment.

Commenting on this, Dr. Khaled A. Mahdi said: “I am pleased to see the engagement of the banking sector with Kuwait’s Vision 2035. Without a doubt the banking sector plays a pivotal role within this vision as per H. H. The Emir’s wishes to transform Kuwait to financial and trading hub”

Mr. Dari Al Bader, General Manager of Corporate Affairs at Gulf Bank, noted: “At Gulf Bank, we are aware of the impact of our role in achieving His Highness the Emir of Kuwait’s Vision 2035. We will spare no effort in collaborating with relevant stakeholders in both the public and private sectors in order to transform Kuwait into the financial and commercial center we aspire it to be.”

It is worth noting that the Kuwait Vision 2035 development plan includes multiple projects that have been funded, or continue to be funded, by Gulf Bank. These projects include the Jaber Al Ahmad Al Jaber Al Sabah Hospital, the Opera House at Sheikh Jaber Al-Ahmad Cultural Center, the new Kuwait University construction project, and the Sheikh Jaber Causeway. Work is still underway for other projects, including: the Kuwait International Airport expansion, the Kuwait Petroleum Corporation initiate environmental fuel project, the clean fuels project, the South Al-Mutlaa city project, the Al-Zour refinery project, the municipal solid waste treatment project, and more.

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