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British expert: Kuwait could become green funding regional force

LONDON, June 17 (KUNA) -- The State of Kuwait has a serious chance to become a leading regional country in the field of green funding, a form of environment-friendly investment, said a British expert Monday.
Delivering a speech at a conference held in London on the private sector's role in the future of the Kuwaiti economy, Chair of the Green Financing Initiative and Mayor of London's financial district Sir Roger Gifford affirmed that they were ready to provide their expertise and assistance to Kuwaiti companies in the field of clean investments.
London Stock Exchange had managed to amplify green bonds to reach USD 22 billion, indicated Gifford, adding that such bonds and bank transaction focused on developing environment-friendly smart technologies.
Back to Green Funding, Sir Gifford affirmed that Kuwait could find itself in special position able to fully implement this kind of funding to diversify its economic resources.
He added that reinforcing partnership between Kuwaiti and British companies was the natural outcome of the long history of strong ties.
Commenting on improving Kuwait's credits rating, an expert from Standard and Poor's (S&P) said that Kuwait would be able to improve its AA if it depended less on the oil sector.
Diversifying economic income would aid the State of Kuwait's Vision 2035, affirmed the expert, adding that this step would hugely attract foreign investments and develop the Gulf State's private sector.
Kuwaiti Finance Minister Nayef Al-Hajraf, Director-General of Kuwait Direct Investment Promotion Authority (KDIPA) Sheikh Meshaal Jaber Al-Ahmad Al-Sabah, and a number of British business personnel and officials took part in the conference. (pickup previous) kd.mrn.gta