Yemen, KFAED to sign $40 mln financing agreement

SANA'A, March 18 (Saba) - Yemen and
Kuwait Fund for Arab Economic Development (KFAED) are to sign next week an agreement
for
financing Socotra port project worth $40 million, the weekly 26 September said on
Thursday.
Undersecretary of Ministry of Planning and International Cooperation Abdullah
al-Shater told the weekly that the KFAED Director General Abdulwahab Al-Bader is to
visit Yemen
next Monday for this purpose.
Al-Shater said that the amount is a part of the financial amount Kuwait has pledged
to grant Yemen in the London donor conference in 2006.
The KFAED is to send also a team to study financing another project of rural roads
amounting to $50 million, he said.
Earlier, Yemen and the KFAED have singed a loan agreement of $50 million to fund
the 3rd stage of the Social Fund for Development, according to the weekly.
Al-Shater expected that the cooperation between Yemen and the Kuwaiti Fund will be
developed in the future.
AF/AF