Kuwait Fund provides Yemen USD 21m grant for electricity distribution


WAM SANAA, 27th March, 2014 (WAM) — The Kuwait Fund for Arab Economic Development, KFAED, has initialled an agreement, whereby the fund will provide Yemen with a grant worth USD 21 million aimed at improving road and electricity network distribution developments in Aden.




According to the Kuwait News Agency, KUNA, the project is aimed at solving the country’s heavy dependency on current electricity generator plants by building two more substations in the city of Aden, which has vibrant residential, commercial and industrial sectors.




The signing was conducted on behalf of the Yemeni government by its Deputy Minister of Planning and International Cooperation, Mether Al-Abbasi, and by engineering advisor Mohammed Sadeqi on behalf of KFAED.




The two sides also agreed a grant for a fund of USD 1 million (KD 300,000), which will aim to enhance the Yemeni Ministry of Planning and International Cooperation’s capabilities in coordinating with international donors.




WAM/Esraa/Moran



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