- Bahrain's economy was negatively impacted by the decrease in oil prices
- The country expected to receive $2bn in debt aid package from some GCC countries
DUBAI: Saudi Arabia’s King Salman arrived in Bahrain on Wednesday to discuss bilateral relations and regional developments, Saudi state news agency SPA said.
King Salman was welcomed to the country by the King of Bahrain, Hamad Al-Khalifa.
The visit comes a day after Manama formalized an agreement with Kuwait for financial aid to support the Bahraini economy as part of an assistance package with other Gulf neighbors.
Kuwait, along with Saudi Arabia and the United Arab Emirates, pledged $10 billion in financial aid to Bahrain last year to rescue it from a potential debt crisis.
At the time Bahrain said it expected to receive up to $2 billion by the end of 2018 as part of the package, to be disbursed over five years.
Bahrain’s finances have been hit hard by a slump in oil prices in 2014 and it has been struggling to cut government spending while avoiding public anger over austerity measures.