GCC States, Funds allocate $ 3.2 bln in 2006 - 2010 plans in Yemen
The Source: www.sabanews.net - 04/01/2010
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The Secretariat General of the Gulf Cooperation Council (GCC) has disclosed that about $ 3.2 billion, which is 90 percent, of the financial pledges of the GCC States and regional funds has been allocated to finance projects in the third development plan 2006 – 2010 in Yemen.
The GCC Secretariat General has revealed in its latest book "GCC in its third decade ... integration and unity" that $ 1.5 billion agreements have been signed to finance development projects in Yemen in 2008 – 2009, indicating that the some of the projects are under construction currently, according to the GPC-run al-motamar.net.The amount has been allocated for more than 50 development projects and programs in different governorates of Yemen.The book has mentioned that the amounts granted from the GCC states and the regional funds to Yemen reached $3.5 billion out of $5.5 billion, which they have been pledged to grant Yemen in the London Donor conference 2006.Based on the consultative meeting between Yemen and development partners, the GCC ministerial council directed, in its 108 round held in September 2008, the specialized authorities in the GEC's states to speed up completing the procedures for allocating the rest pledges, signing the agreed allocation and for carrying out the projects, whose agreements have been already signed.The council responded to Yemen's request to be assisted in facing the food crisis, and decided to give priority to the agriculture development projects, particularly those ones targeted rationalizing water consumption.According to the book, three consultative meetings have been held in Sana'a since 2007, in which they agreed on a number of procedures to assure the projects' implementation according to the agreed investment and timeframe programs.
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