(MENAFN) The Kuwaiti government penned a document that backs fiscal reforms Bahrain commenced to enhance its economy.
It comes following a financial aid package of which Bahrain received from Kuwait, the UAE and Saudi Arabia at a value of USD10 billion.
Through the package, Bahrain will intensify its efforts to steer clear of a debt crisis.
According to KUNA, a "multi-party cooperation framework" was penned between finance ministers from Kuwait and Bahrain alongside the Arab Monetary Fund and the Kuwait Fund for Arab Economic Development.
KUNA reported that the framework "formalizes a previously agreed package for supporting the economic reforms and financial stability of the Kingdom of Bahrain."