Kuwait Approves $500 Million Advance Payment For 28 Eurofighters

Kuwaiti parliament has approved $500 million (150 million dinars) as advance payment for the purchase of 28 Eurofighter Typhoons.

Kuwait signed a MoU in September last year with the consortium in a deal worth up to 8 billion euros ($8.7 billion).

“The 150 million dinars will be drawn from Kuwait's general reserve fund, a savings pot managed by the Kuwait Investment Authority, one of the world's biggest sovereign wealth funds,” Reuters reported citing Kuwaiti news agency, Kuna as reporting Tuesday.

Kuwait had signed a MoU to buy 28 Eurofighters for an estimated $9 billion in September last year. It was also negotiating buying 28 Boeing F/A-18E/F fighter jets by the end of 2015. The Boeing deal however has been held up by delays in US regulatory process.