KFAED pumps USD 93 mln into Yemen development projects
Kuwait Fund for Arab Economic Development (KFAED) and the Yemeni government signed two deals by virtue of which the Fund will set aside USD 93 million to a rural development and public works projects.
The two deals were signed by Yemeni Minister of Planning and International Cooperation Mohammad Al-Saadi and KFAED’s agricultural advisor Dr. Abdulreda Bahman in the presence of Minister of Agriculture and Irrigation Farid Ahmad Mujawwar.
Under the first deal, KFAED will contribute USD 52 million to the implementation of the fourth stage of a public works development project, which aims to alleviate poverty, improve living conditions and curb unemployment.
The second one provides that KFAED will contribute USD 41 million to the rural development project in the two central governorates of Ibb and Raymah, with a view to improving the living conditions of farmers and stemming migration to cities.
After the signing ceremony, Al-Saadi lauded KFAED’s financial support to the development projects and economic revitalization in his country.
Meanwhile, Bahman reaffirmed KFAED’s commitment to backing up the efforts of the Yemeni government in the areas of poverty alleviation, job creating and economic development.
The ceremony was attended by director of the public works’ project Saeed Abdo Ahmad and representative of the International Fund for Agricultural Development (IFAD) Dr. Fathya Bahran.
Source : KUNA Kuwait News agency