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FINANCIAL NEWS
Yemen to get $50m loan from Arab fund
23 Dec 2010
(MENAFN) The Arab Fund for Economic and Social Development (AFESD) and the Capital Secretariat of Sanaa are set to ink an agreement to offer $50 million to fund the construction of five flyovers in the city, Kuna reported.
The document will be signed here next week, Yemeni Minister of State and Mayor of Sanaa Abdul-Rahman Muhammad Al-Akwa said after his meeting with a delegation from the Kuwait-based AFESD.
The delegation, made up of Dr. Monzer Al-Qarqouri and Dr. Suhaib Allabedi, is on a visit to Yemen to discuss the technical studies on the third stage of the new layout of the main intersections in the capital city.
The meeting dealt with the new designs of the infrastructure of Old Sanaa to be funded by the AFESD, Al-Akwa praising the role of the fund in the rehabilitation of the public utilities in the city.
On their part, the delegation appreciated the efforts to the Capital Secretariat to make the best use of the AFESD funds to improve the services, reduce traffic jams and show the civilized face of the city.
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