Kuwait may approve a public debt law shortly, allowing it to borrow money for the first time in eight years, Bloomberg reported, citing unnamed sources.

The law is expected to allow the country to raise 20 billion dinars ($65 billion) over the next five decades, the report said.

Kuwait will be able to issue conventional bonds and sukuk as needed, the news agency reported, quoting sources.

The country last raised $8 billion in debt in March 2017, just before the previous debt law expired.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)