VOL. XXXV
NO. 19
10-FEBRUARY-1992
Financial and Banking News
Financial Issues
Quwaiz Details Expected Contributions to New Gulf Fund
Saudi Arabia, Kuwait and the UAE have pledged $6.5bn towards a new Arabdevelopment fund, according to Mr. 'Abd Allah al-Quwaiz, the Associate SecretaryGeneral of the Gulf Cooperation Council (GCC). The Gulf states agreed in April1991 to create a new fund which would be capitalized at $5bn within three yearsand $10bn within ten years (MEES, 29 April 1991). Their...
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