LOC10:40
07:40 GMT
KUWAIT, April 23 (KUNA) -- The Cabinet has approved Kuwait Petroleum Corporation (KPC) to borrow from various institutions to finance its investment programs during the next five years, KPC said Tuesday.
KPC has developed; through a specialized financial advisor, a plan on the optimal financing options for its investment program, based on determining the ideal financing structure for it, KPC said in statement.
The plan will also ensure the safety of expected cash flows and maintaining the strength of its financial position, as well as its ability to repay the principal and interest of the loan, it added.
KPC will coordinate with the Ministry of Finance and Kuwait Investment Authority, as well as the Central Bank of Kuwait while doing so, as the borrowing process will be gradual within the coming years.
The plan will be reviewed regularly to address changes that may occur, including market fluctuations, and the implementation of projects. (end)
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