[17/03/2019 07:36]
KUWAIT-SABA
The Republic of Yemen and the Kuwaiti Fund for Arab Economic Development signed on Sunday five development treaties in the framework on unique relations and fruitful cooperation between the two brotherly countries.
Minister of Planning and International Cooperation Najeeb al-Awj signed the treaties from Yemen's party and Director of the Kuwaiti Fund Abdulwahab al-Badr from Kuwaiti party.
The treaties included funding development projects in Yemen in addition to financial preparations treaties for resuming development projects financed by the State of Kuwait.
The first treaty includes financial preparations for alleviating burdens on the Republic of Yemen's over debts to the Kuwaiti Fund, stipulating on rescheduling paying the KD 39, 6 million within 40 years with additional 15 years as respite and one percent profit.
The second treaty stipulates on regulating loan-treaties signed with Kuwait during the two donor conferences in London and New York and reducing loans profit from 20 percent to 10 percent.
The third treaty was on supporting rural development project in a number of provinces.
Meanwhile, the forth treaty on regulating paying back table and the fifth treaty is on regulating the Fund's grant for financing and equipping the College of Sabah al-Ahmad in Socotra Archipelago.
Minister al-Awg acquainted the Director of the Kuwaiti Fund with recent developments in Yemen, especially in fields of reconstructions and economic situations, as well as exerted efforts for resuming projects financed by donors.
The two parties also discussed improving and enhancing Aden's electricity and constructing a new power-generating plant with output of 520 MW.
Al-Awj praised contribution of the State of Kuwait for supporting Yemeni and alleviating burdens on it over the current conditions and resuming development projects financed by the Kuwaiti Fund.
For his part, the Director of the Kuwait Fund al-Badr confirmed continuous support to Yemen's development.
Prime Minister receives Dutch ambassador, discuss bilateral cooperation
Interior Minister confers with French Ambassador over security cooperation
Higher Education Minister, French Ambassador discuss enhancing cooperation
FM, Cuban Ambassador hold talks on promoting bilateral relations
FM, Cypriot counterpart discuss bilateral relations
Yemen looks for robust Chinese partnership in Transport—Minister insists
Defense Minister meets with Acting-Chinese Ambassador in Aden
Two children injured by Houthi landmine in southeastern Yemen's Shabwa
Cabinet looks at various issues on its agenda
PM hails Sino-Yemen relations, gives glad tidings on partnership prospects