SABA - Yemen news agency

Print date: 14-12-2017
Article link: http://www.sabanews.net/ar/news358924.htm
  Economy
Yemen, Saudi Arabia sign MoUs worth of over $131 mln
[25/June/2014]

JEDDAH, June 25 (Saba) - Yemen and Saudi Arabia signed on Wednesday in Jeddah city several memorandums of understanding on the implementation of six developmental projects in Yemen worth of over $131 million.

The MoUs stipulates to allocate US$ 37.2 million, US$9.9 million and US$ 20.7 million to improve the capital's electrical, water sanitation networks respectively.

Under the MoUs, an amount of US$ 50 million is to be allotted to finance a project of re-habilitating the low-income people areas in Sana'a and US$ 5 million to outfit laboratories and workshops of the Industrial Chemistry department at the Taiz University in addition to US$ 9 million to finance the implementation of Faculty of Medicine and Health Sciences at the University.

The MoUs were signed on the sidelines of the 39th annual meetings of the Board of Governors of the Islamic Development Bank (IDB) by Minister of Planning and International Cooperation Mohammad al-Saadi and Saudi Minister of Finance Ibrahim Bin Abdul Aziz al-Assaf.

FJ