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Kuwaiti Fund to finance Socotra port project with $50 mln

Kuwaiti Fund to finance Socotra port project with $50 mln
Saturday 13/March/2010

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sana'a/hadhramaut.info/sabanews.net

حجم الخط

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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