PARLIAMENT APPROVES $ 11.5 MLN LOAN AGREEMENT

SANA'A, Feb. 15 (Saba) - The Parliament approved on Monday a loan agreement worth $ 11,497,000 signed between Yemen and the Islamic Development Bank (IDB) to contribute to finance the agricultural development project at Abyan province.

In its session chaired by Parliament Speaker Yahya al-Rae'i, the Parliament issued some recommendations focusing on spending the loan only on the purposes that have been specified for.

It also recommended the completion of the project in the set time schedule included in the agreement and not allowing any extension unless the Parliament agrees on.

The recommendations affirmed the importance of carrying out the project in a way that serves the desired goals and submitting annual and periodic reports on implementation level for the Parliament.

FJ/AF