[04/September/2012]

RIYADH, Sep. 04 (Saba) - Yemen and Saudi Arabia signed in the Saudi capital, Riyadh, on Tuesday three financing agreements to support the two-year transitional program for stability.

The agreements were signed on the sidelines of the donor meeting for Yemen kicked off on Tuesday in Riyadh.

The first was agreement signed by governor of Central Bank of Yemen (CBY) Mohammed bin Hammam and Saudi Finance Minister Ibrahim al-Assaf, under which the Saudi Fund for Development (SFD) places $1 billion as a deposit in the CBY and to be transferred before the end of this week.

The Saudi initiative aims to support the Yemeni government to stabilize the local currency and exchange prices.

The second agreement stipulates that the SFD grants $20 million as a contribution to finance establishing a 60 MW wind power generating station electricity in Mocha city.

Moreover, the last agreement states that the Fund gives $6 million to support the government's efforts to combat Measles.

AF

Saba