Arab Investment Guarantee corp. approves 2001 budget

The Arab investment guarantee corporation approved the 2001 projected budget, as well as revenues and expenditures. The corporation said it sealed 63 contracts worth $ 103.2 million, and paid $ 5.27 million in compensations.

The Kuwait-based corporation said Saturday it received 172 guarantees' applications from 11 Arab states with an overall value of $ 558 million, according to Kuwaiti news agency KUNA.