SABA - Yemen news agency

Print date: 21-10-2018
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Yemen, AFESD sign funding agreement of US$ 20 mln
JEDDAH, June 25 (Saba) Yemen and the Arab Fund for Economic and Social Development (AFESD) have signed an agreement of new funding support worth US$ 20 million to contribute in covering the financing gap for Ghaida Central Hospital which is under implementation.

The agreement, which was signed at the sidelines of the 39th Annual Meeting of the Board of Governors of the Islamic Development Bank Group (IDB), stipulated that the AFESD would provide funding support of K.D 6 million (six million Kuwaiti Dinars=US$ 20 million) for equipping Ghaida Central Hospital.

After signing the agreement, Minister of Planning and International Cooperation Mohammed al-Saadi hailed the keenness of the AFESD in boosting the development and stability paths in Yemen via funding a lot of development projects and vital service.

Director-General and Chairman of the Board of Directors of the AFESD Abdulatif Al Hamad affirmed that the fund is keen to continue offering the overall required support to enhance the development and stability process in Yemen, noting to the level of partnership existed between Yemen and the fund.

From the other hand, the Minister has discussed, at the 39th meeting's sidelines, with Minister of Finance of the Kingdom of Saudi Arabia Ibrahim bin Abdulaziz Al-Assaf several issues related to the mutual relations between Yemen and Saudi Arabia and ways to develop them to serve the two countries' common interests.

Al-Saadi praised the contribution of the Saudi government to promote efforts of the Yemeni government aiming to meet the requirements of the country's ongoing transitional phase, expressing his appreciation for Saudi Arabia to continue its development and economic support to Yemen.

For his part, Minister of Finance asserted the Saudi kingdom's keenness to continue providing all aspects of support needed to help Yemen in order to overcome its challenges, praising the level of cooperation between the two brotherly countries.