Business

Kuwait Lends Yemen $54 million

National Yemen

kuwait-parliament

By NY Staff

The Kuwaiti Fund for Arab Development signed an agreement with the Yemeni government approving a $54 million loan to finance the fourth phase of the roads project in rural Yemeni areas. The agreement was signed by Minister of Planning and International Cooperation Mutahar Al-Abbasi and a consultant from the fund, Mohammed Ibrahim.

The agreement signing was also attended by Minister of Public Works and Highways, Omar Al-Karshamy, who praised the contribution of the Kuwaiti Fund for Development in supporting the implementation of infrastructure projects in Yemen.

The legal consultant of the fund expressed the fund’s willingness to support Yemen in its quest to improve infrastructure.

The project includes 13 highways in nine provinces and the repair of 16 roads in a number of other provinces, according to a statement released by the Planning Ministry.

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