Kuwaiti Fund to finance Socotra port project with $50 mln
The Source: sana'a/hadhramaut.info/sabanews.net - 13/03/2010
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An agreement is to be signed here on Tuesday between
the Ministry of Planning and International Cooperation and the Kuwaiti Fund for
Arab Economic Development to fund the Socotra port project with $50 million.
The Kuwaiti Fund's Director-General Abdulwahab
Al-Bader is scheduled to arrive in Sana'a on Monday, for this purpose.The Kuwaiti ambassador in Sana'a Salem al-Zamanan confirmed that this signing
comes at the conclusion of the talks held between the Fund's officials and the
Yemeni officials at the Ministry of Planning during the last period, where the
two sides initialed the agreement on November 17, 2009.He pointed out in a press release that the project funding comes under the
amount pledged by the Kuwaiti government at the London Conference of Donors in
November, 2006, which amounted to $ 200 million.The Socotra port would be one of the most vital and strategic projects in Socotra, Al-Zamanan expected, noting that the project
would help to support the socioeconomic development in the island through the
promotion of transport and trade between the island and the other Yemeni ports.
The ambassador emphasized the strength of the Yemeni-Kuwaiti relations, saying
that the financing of this project and other projects is an extension of the
role of Kuwait in supporting
our brothers in Yemen
since the nearly five decades
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