March 17, 2020 / 5:07 PM / 23 days ago

REFILE-Bahrain to cover electricity and water payments for individuals, companies for 3 months - ministry

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CAIRO, March 17 (Reuters) - Bahrain announced on Tuesday a financial package of 4.3 billion Bahraini dinar ($11.39 billion) to combat the fallout from the coronavirus outbreak.

The measures include covering electricity and water payments for individuals and companies for three months starting in April, the finance ministry said in a tweet.

Bahrain will also double the size of the liquidity fund to reach 200 million dinars ($530 million). The central bank will also raise the lending capacity of banks by 3.7 billion dinars ($9.80 billion) to postpone installments or provide additional financing for clients, the ministry said.

The package also exempts tourist facilities from paying taxes for three months as of April as well, the ministry added. ($1 = 0.3774 Bahraini dinars) (Reporting by Nayera Abdallah and Omar Fahmy Editing by Gareth Jones)

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