MANAMA: Bahraini Crown Prince Salman bin Hamad Al Khalifa with Kuwaiti Minister of Finance Dr Nayef bin Falah Al-Hajraf. - KUNA

MANAMA: Kuwait, Saudi Arabia and the United Arab Emirates will jointly provide assistance worth USD 10 billion to Bahrain, including financing and soft loans, aimed at stabilizing the kingdom's budget by 2022.The support was granted after the finance ministers of the four neighboring Gulf countries signed a framework agreement in Manama, according to Bahrain's state news agency, BNA.

It follows earlier pledges made by the three countries, in accordance with "brotherly ties, constructive cooperation and a common destiny."The move targets support for Bahrain's financial stability, the encouragement of economic growth and development, and achieving a balance between government revenues and expenditures.

Bahraini Crown Prince Salman bin Hamad Al Khalifa, the Deputy Supreme Commander and First Deputy Prime Minister, earlier received Kuwaiti Minister of Finance Dr Nayef bin Falah Al-Hajraf, Saudi Minister of Finance Mohammed bin Abdulla Al Jadaan and UAE Minister of State for Financial Affairs Obaid bin Humaid Al Tayer. During the meeting, the Crown Prince expressed gratitude to sisterly Kuwait, Saudi Arabia and the United Arab Emirates for their firm support to the Kingdom of Bahrain in all areas, according to Bahrain News Agency (BNA).

The meeting took place at Gudaibiya Palace following the signing of USD 10-billion aid package from the three countries to Bahrain. The Crown Prince underscored the importance of the long-standing and deep-rooted relations between Bahrain, on one hand, and Kuwait, Saudi Arabia and the UAE, on the other.

He stressed the significance of regional cooperation in accelerating economic and social development. He asked his guests to convey the greetings of Bahraini King Hamad bin Isa Al Khalifa to His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Saudi King Salman bin Abdulaziz Al Saud and UAE President Sheikh Khalifa bin Zayed Al Nahyan. The meeting also gathered Bahrain's Deputy Prime Minister Sheikh Mohammad bin Mubarak Al Khalifa, Deputy Prime Minister Sheikh Ali bin Khalifa Al Khalifa, Deputy Prime Minister Sheikh Khaled bin Abdulla Al Khalifa, and Minister of Finance Sheikh Ahmad bin Mohammad Al Khalifa.

Cloud computing

On Friday, Kuwait's Communication and Information Technology Regulatory Authority (CITRA) and Bahrain's Information and eGovernment Authority (IGA) signed a Memorandum of Understanding within the remote server practice of cloud computing. CITRA's Chairman and CEO Eng Salem Muthib Al-Othainah said in a press statement that the authority was keen on bolstering cooperation with Bahrain in cloud computing, affirming that the agreement would boost efforts to protect data and information online. The MoU is part of the Kuwait 2035 vision, said Al-Othainah, adding that Kuwait was eager to be involved in GCC countries' development plans.

On his part, IGA CEO Mohammad Al-Qaed commended Kuwait on its keenness to bolster cooperation with Bahrain within the IT domain, stressing that the MoU was part of an ongoing cooperation between the two sides. He hoped that Kuwait and Bahrain would continue to IT coordination in the future to benefit both countries' plans for development and progression. In its 2017 plans, the government in Bahrain had set its eye on becoming a part of the global cloud-computing scene, becoming the first Arab nation to adopt this branch of computing. Cloud computing is a practice that uses remote reserves to store data and information in an effort to protect them against harm and digital crime. - KUNA