Almotamar net - The agreement was signed by Ahmed Sofan, the Minister of Planning and International Cooperation and the Board Chairman of the Arab Fund, Abdul-Latif al-Ahmad.
The two agreements will provide funding for the third phase of the activities of the social fund for development, including setting up health centers in the cities of Sayawn and Tarim in Hadhramaut governorate.
Sofan highlighted the level of the cooperation between Yemen and the Arab Fund, saying that the AFESD is key partner in the development process in the country.
He said that the partnership is strong, and can be seen in the current projects which are being funded by the AFESD, especially in the infrastructure projects it is backing.
He said that the Fund is currently funding the Marib Gas Plant and several road projects, including the Saywan-Nashton road project, which will provide a link between Yemen and other Gulf states. It will also help develop Yemen’s air network.
"The Fund will fund works in the first phase of modernizing Sana'a International Airport, which will be started soon," Sofan said.
He said that the Fund has helped several different development and service projects in the country, particularly in health and water areas.
The Arab Fund financed projects of the Social Fund for Development worth 15 million Kuwaiti Diner (US$50 million).
The activities of the Arab fund are contributing to improve development in Yemen in different sectors over the previous years, he said.
In reply, the Arab Fund official said that the organization would continue to offer all forms of support for the economic and social projects in Yemen.
Al-Ahmad said that progress had been witnessed in Yemen during the past few years, adding that the signature to the two loan agreements was very important for the country, as the financial backing would support efforts made by the government to improve services project in Hadhramaut governorate.
Al-Ahmad also met with the Minister of Finance, Alawi al-Salami. During the meeting, al-Salami praised the role AFESD plays in supporting development in Yemen.
He added that Yemen considers AFESD as a major partner in its development efforts in the country.
Al-Ahmad said the visit would allow him to look at the current developments in Yemen.
source:YemenObserver
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Yemen and AFESD sign US$102million Loan Agreements
