Kuwait tightens eligibility rules for subsidized building materials
. . . links subsidized building materials to Credit Bank loans
Minister of Commerce and Industry Osama Boodai has amended the rules governing the disbursement of subsidized and reduced-priced building materials, tying eligibility to loans obtained from the Kuwait Credit Bank.
Under the amended decision, beneficiaries must have obtained a Kuwait Credit Bank loan for construction, renovation and expansion, purchase, or demolition and reconstruction. Building materials may be disbursed only once, with the beneficiary’s entitlement determined and the disbursement linked to their civil number.
For homeowners seeking to demolish and rebuild their properties, the decision requires a demolition and reconstruction loan from the Kuwait Credit Bank, along with the electronic submission of the demolition and new-building permits.
Beneficiaries must also submit a Kuwait Credit Bank letter specifying the amount reserved for demolition and reconstruction. The quantity of materials will be determined according to the schedule set out in Article Two, while deducting quantities previously disbursed to the beneficiary.
The decision also cancels Clause 7 of Article Four of Ministerial Decision No. 222 of 2024 and repeals any provision that conflicts with the new rules.
