Kuwait withdraws $500m for Eurofighter Typhoon jets

Announcement follows a MoU in September



Kuwait’s parliament approved a draft law yesterday allowing the government to withdraw KD 150m ($498.9m) for a down payment for Eurofighter Typhoon fighter jets.

A memorandum of understanding for 28 jets was signed with plane makers Finmeccanica, BAE Systems and Airbus in September and is worth $8.7bn.

The KD 150m will be withdrawn from the country’s general reserve fund managed by the Kuwait Investment Authority, according to state news agency KUNA.

Reports last month suggested the deal had been delayed due to internal procedural problems in Kuwait.

In January, the country allocated KD 3bn over the next 10 years for weapons and military equipment.