European Finance Bank plans to invest € 1 billion in Yemen

SANA'A, Nov. 23 (Saba) - Chairman of the board of directors of The
European Finance Bank has announced the bank planned to invest in
Yemen in areas such as energy, mineral exploration, cement and
extractive industries at € 1 billion.

Upon arrival in Yemen leading a delegation from the World Bank with
the aim to hold talks with Yemeni officials on means to promote
cooperation between Yemen and the European Finance Bank, Ahmed Bin
Qabil said he will discuss with the Yemeni officials the possibility
of opening a branch of the bank in the country.

The bank branch would be either totally owned by the European
Finance Bank or with partnership with the government, Bin Qabil said.

It will work to finance private projects as well as governmental
projects in the fields of energy and electricity, minerals and
extractive industries, he said.

Bin Qabil said investment climate in Yemen is suitable, hailing
merits and facilitations the Yemen investment laws provide for
foreign investors.