Kuwait to fund SFD project's with $50 million

SANA'A, Jan. 17 (Saba) - Yemen and Kuwait will sign on Sunday an agreement on funding the 3rd phase of Social Fund for Development (SFD) project amounting to $50 million.

The agreement comes within Kuwait's determination to fulfill its financial
commitment to Yemen during the London Donor Conference held in November 2006 which
amounted to $ 200 million to support development in Yemen.

The agreement will be signed by Deputy Prime Minister for Economic Affairs and
Minister of Planning and International Cooperation Abdul Karim al-Arhabi and
Economic Advisor of Kuwaiti Fund for Arab Economic Development (KFAED) Tareq
al-Menayes.

In statement to Saba, al-Arhabi indicated that signing the agreement embodies the
stepped-up approaching steps the Yemeni-Kuwaiti ties witness under the auspice of
the two political leaderships in both countries, praising the Kuwait's keenness on
supporting the development process in Yemen.

It is worth to mentioning that a technical mission form KFAED is currently visiting
Yemen to get acquainted closely with the projects' nature to be financed via the
Kuwaiti financial commitments to Yemen.