KAFED TO SUPPORT PROJECTS OF MARIB ELECTRICITY, RURAL ROADS IN YEMEN

SANA'A, Nov.18 (Saba) - Head of Arab Economic Development (KAFED)'s mission Tariq al-Menisi affirmed on Wednesday that the fund will support Yemen to implement Marib electricity project and the rural roads projects during the coming period.

He described his talks with Yemeni government officials as successful and fruitful and resulted in signing an agreement to finance Soctora commercial port project.

Upon departing Sana'a, al-Menisi told Saba that the cost of the project amounts to $50 million which the fund contributes $41 million, pointing that the project, which its execution takes three years, will contribute to supporting the socioeconomic and tourist development in Socotra archipelago.

Kuwait's support to this project comes within fulfillment of its commitments to Yemen during the London conference of donors held in November 2006, al-Menisi noted.

Yemen and KAFED signed last Tuesday an agreement through which the Kuwaiti fund presents $41 million to finance Socotra commercial port project.

BA