Cabinet approves Yemen share in Kuwaiti Emir development initiative

SANA'A, Aug. 11
(Saba) - Cabinet approved in its weekly meeting on Tuesday a memorandum of
Ministries of
Trade and Industry and Finance concerning the Yemen's share in the $ 2 billion
Development Initiative of Kuwaiti Emir approved in the last Arab summit held in
Doha, Qatar.
The initiative aims to provide the fund resources to finance the private sector's
small and medium sized enterprises.
The meeting chaired by Deputy Premier for Defense and Security Affaires Rashad
al-Alimi directed Finance Minister to take the requisite actions to make the sum
of $ 5 million
announced by President Saleh available in the budget of 2010 to be paid to the Arab
Fund for Economic and Social Development (AFESD).
AFESD will manage the initiative via standards and machineries would be agreed on
by the contributing countries to guarantee its continuance and realize the desired
goals.
AF/AF