http://www.english.hadhramaut.info AFESD offers $ 77 mln to finance road projects in Yemen [The Source: SANA'A/hadharamaut.info/sabanews.net - 29/12/2010] Yemen and Arab Fund for Economic and Social Development (AFESD) initialed here on Wednesday two agreements to contribute to financing road projects in Yemen a total cost of USD 77 million. The first agreement, signed by Minister of Planning and International Cooperation Abdul-Karim al-Arhabi and Legal Advisor of the Fund Al-Fateh Shazli ,stipulated the allocation of KWD 12 million (about USD 42 million) to contribute to financing the completion of the Dhamar- Huesseiniah road project.The project aims to improve land transport services through connecting the central area to the western area in the country, and to contribute to linking areas of high population density.The second agreement aims to help finance of major crossroads project in the city of Sana'a (Phase III) at a total cost of USD 50 million, including a USD 35 million contribution from the Fund, and the rest of USD 15 million from the government funding.The project aims to improve the efficiency of the major roads and address traffic jams in the capital Sana'a through constructing bridges and tunnels and other works.Following the signing of the agreements, al-Arhabi commended the AFESD's contributions in supporting the development paths in Yemen, noting the Fund's keenness to meet priorities of development needs in Yemen.For his part, the AFESD's official confirmed the Fund's keenness to continue to provide all aspects of possible support to Yemen.He pointed to the growing development witnessed by the existing cooperation relations between Yemen and the Fund.