Saudi Arabia grants $105 million to Yemen for two development projects

May 23, 2012

In the presence of Foreign Minister Prince Saud Al-Faisal and Yemeni Prime Minister Mohammed Salem Basendwah, Saudi and Yemeni officials signed a memorandum of understanding in Riyadh today to fund two development projects. The Kingdom will provide $105 million to Yemen to pay for the undertakings. The first project involves increasing the amount of power lines and will cost $60 million, while the second project concerns the Teaching Hospital at Sana’a University and will cost $45 million.