SDF signs agreement to finance Yemeni development projects

April 5, 2009

The Saudi Development Fund (SDF) signed two agreements in Sana’a today with the Yemeni Ministry of Planning and International Cooperation for the financing of $324.6 million in development projects.

The first project is the construction of a double road from Amran to Bayt Al-Kumani via Sana’a, which will cost a total if $320 million. The SDF will provide $207 million as a grant and $113 million as a loan to finance the 95-kilometer road.

According to the second agreement, the SDF will contribute $4.6 million to finance an anti-malaria initiative.

The two agreements were singed by SDF Deputy Chairman Yussef al-Bassam and Yemeni Minister of Planning and International Cooperation Abdul al-Arhabi.

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