Kuwaiti Emir grants $6 mln and AFECD $65 mln to Yemen

MARRAKECH, April 17 (Saba) – Yemen and the Arab Fund for Economic and Social Development (AFECD) signed in Marrakech, Morocco, a financing agreement worth $65 million.

The agreement’s amount will be dedicated to contribute to financing a wind power generation project in Mocha district with a capacity of 60 MW to enhance the power generation capacities in Yemen.

The agreement was signed on the sidelines of the 41 annual meetings of the Arab financial authorities and agencies by Minister of Planning and International Cooperation Mohammad al-Sa’adi AFECD Director General and Chairman Abdullatif Al Hamad.

Moreover, the Minister of Planning and International Cooperation and Kuwait Fund for Economic Development (KFED) Director General Abdulwahab Al-Bader signed an agreement of the grant of Kuwaiti Emir Sabah Al-Ahmad Al-Sabah estimated to be $6 million to Yemen.

The Kuwaiti Emir’s grant dedicated to support “the decent life program to help Muslim countries in their efforts to achieve food security aims to finance small and smaller enterprises in fields of food production and providing production support services.

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Saba