Cabinet approves loan treaty worth $ 125

SANA'A, Nov. 11 (Saba)-In its meeting held on Tuesday, the cabinet
approved the loan treaty signed with the Saudi Fund for Development
for funding Amran-Sana'a-Thamar-Tiaz-Aden Highway Project with fund
worth nearly US$ 125 million.

The project, which costs totally $ 950 million, aims at improving
land transport network and developing urban and rural areas in the
country. The project works on expanding the current highway by
adding 13.45 meters to each side and middle green space with the
width of 3.6 meter.

The cabinet also agreed on the draft loan treaty the government is
negotiating for with Korean Bank for Export and Import for financing
the Project of the Yemeni-Korean High Technical Institute with the
cost of nearly $ 15, 3 million with repayment installment period
extend to 30 years.

The minister council authorized deputy prime minister for economic
affairs to sign the loan treaty and making preparations for final
approval.

The council also approved the standardized treaty for coastal
fishing for in Yemeni regional waters presented by minister of
fishery wealth and referred it for final constitutional approval.

The treaty aims at protecting fishery wealth and organizing coastal
fishing process according to legal and methodical basis encouraging
investment and for creating work opportunities in fishery wealth.