Business

Kuwait Fund provides Yemen $21m grant for electricity distribution

National Yemen

Aden city

  • WAM

Fund aimed at improving road and electricity network distribution developments in Aden. The Kuwait Fund for Arab Economic Development, KFAED, has initialled an agreement, whereby the fund will provide Yemen with a grant worth $21 million aimed at improving road and electricity network distribution developments in Aden.

According to the Kuwait News Agency, Kuna, the project is aimed at solving the country’s heavy dependency on current electricity generator plants by building two more substations in the city of Aden, which has vibrant residential, commercial and industrial sectors. The two sides also agreed a grant for a fund of $1 million (KD 300,000), which will aim to enhance the Yemeni Ministry of Planning and International Cooperation’s capabilities in coordinating with international donors.

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