Kuwait fund hands Yemen $21m grant
Sanaa - Saba
The Kuwait Fund for Arab Economic Development (KFAED) initialed an agreement, whereby the fund will be providing Yemen a grant worth $21 million aimed at road and electricity network distribution developments in Aden.The project is aimed at solving the heavy dependency on current electricity plants through building two more substations in the city of Aden, which has vibrant residential, commercial and industrial sectors.The signing was conducted by Deputy Minister of Planning and International Cooperation Mether Al-Abbasi and engineering advisor Mohammed Sadeqi on behalf of KFAED.The two sides also agreed a grant for a fund of $1 million which will aim to enhance the Yemeni Ministry of Planning and International Cooperation's capabilities in coordinating with international donors.
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