Almotamar.net - The Arab Fund for Economic and Social Development has pledged allocating $500 million to support development projects in Yemen during the period 2011-2015.
The Arab Fund said in its statement published on its website that the pledge, concluded during the roundtable meeting of the donors held in Brussels, Belgium on 22-23 last November, comes as part of the pledge by establishments of coordination group for supporting development projects in Yemen through offering loans and assistance amounting to $two billion during the period 2011-2015.
In the period 1974-2009 the Fund offered Yemen loans worth KD639.7 million to finance 89 projects in different areas of economic and social development.
The annual report of the Fund for the year 2009 clarified that the Yemeni government withdrew KD 396 million and 637 thousand until the end of the last year out of the total loans offered by the Fund, as for the withdrawals during the years 2009 amounted to KD 27 million and 102 thousand. an amount of KD185 million and 233 thousand was replayed during the same period and loans and assets of the fund worth KD 20 million and 356 thousand were cancelled.