KFAED DIRECTOR GENERAL ARRIVES IN YEMEN

SANA'A, March 22 (Saba)- A cooperation agreement between Yemen and the Kuwait Fund for Arab Economic Development (KFAED) is going to be inked Tuesday.

Upon the agreement, the KFAED will be committed to contribute to financing Socotra Archipelago sea port, estimated at a total of $60 million.

This statement was made upon arrival of the KFAED Director General Abdul-Wahab al-Badr in remarks to Saba who noted that the Fund will cover 66 per cent of the total cost of the port.

The KFEAD contribution to this project comes within the Kuwaiti financial pledges to Yemen made in the London Donors Conference in 2006, making clear that the Kuwaiti Fund has signed a deal with the Yemen government to finance the social fund project at $50 million.

AM/AM