Bahrain-based First Leasing Bank has signed a $23 million agreement to finance lease medical equipment for Al Seif Hospital in Kuwait.

Al Seif Hospital, which is set to open in the third quarter of this year, will be one of the country's main medical facilities.

The agreement was signed between First Leasing Bank business development director Jassim Awadh and Al Maidan Clinic chairman Faisal Mansour Sarkhou. Also present was Al Maidan Clinic general manager Bashar Assad.

"We are pleased to be able to assist Al Maidan in financing medical equipment for this new hospital, which is set to be one of Kuwait's landmark medical institutions," said Awadh.

Our involvement in this $100 million project reinforces the strength of demand for First Leasing Bank's leasing capabilities within the GCC.

"In the past few years the bank has significantly contributed to generating awareness of leasing amongst different industries within the region."

"Al Seif Hospital will have over 120 beds and will pioneer the latest in medical technology to the Arabian Gulf," said Sarkhou.

"It gives us great pleasure to sign this agreement with First Leasing Bank to finance the equipment for one of the most important medical projects in Kuwait," he added.-TradeArabia News Service