KSA allocates rest of London conference $1 bln grant

RIYADH, Feb. 27 (Saba) -
Kingdom of Saudi Arabia announced on Saturday that the rest of the $1 billion
granted to Yemen
in the London donor conference held in 2006 has been allocated for projects in Yemen.

Deputy Chairman of the Saudi Fund for Development (SFD) Yousif bin Ibrahim
al-bassam said in the first session of Riyadh meeting on aiding Yemen that four
financing agreements
would be singed in the sidelines of the meetings of the Yemeni-Saudi Coordination
Council-19th round, to be held in Riyadh soon.
The agreements are to finance fifth power project at a cost of $50 million, water
and sanitation program at $40 million, Hodeidah Hospital project $20 million and
equipping
laboratories of engineering and education colleges in Taiz worth $4.8 million,
according to al-bassam.
He added that the amounts of six other projects have been allocated, consequently
Saudi Arabia has fulfilled its entire financial pledge to Yemen, which is $1
billion.
Earlier, the SFD has signed nine agreements to finance several projects at a cost
of $ 642 million, he said.
He called all donors participating in the Riyadh meeting to keep on supporting
Yemen faster than before to assist in alleviating the impacts of the economic
crisis.
AF/AF