Thursday, 16 December 2010

Yemen, AFESD to sign $50 m agreement

Source: Yemen’s officials news agency( Saba)
SANA'A-Yemen and Arab Fund for Economic and Social Development (AFESD) are to sign in the coming few days an agreement worth at $ 50 million, the weekly 26 September reported on Thursday.

The weekly cited well-informed sources as saying that the agreement would be signed during a visit of AFESD delegation to Yemen soon. The sum will be utilized to finance new projects of bridges and tunnels in the capital Sana'a.

The delegation will hold talks with a number of Yemeni officials on promoting the cooperation aspects between Yemen and the fund as well as the AFESD-funded future projects in Yemen, the sources added.

Worth to mention is that the fund has pledged to allocate $ 500 million to support the development projects in Yemen during 2011-2015.

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