Yemen, KFAED sign $54m loan agreement to finance rural roads

Yemen and Kuwaiti Fund for Arab Economic Development (KFAED) on Saturday signed a loan agreement to finance the implementation of roads in rural areas. It was signed by Minister of Planning and International Cooperation Mohammed al-Sa'adi and KFAED Director General Abdul Wahab Ahmed al-Badr. Under the agreement, KFAED lends Yemen $54 million to contribute in financing the 4th phase of the rural roads project. The project aims to link remote rural areas and villages to the urban centers and cities to facilitate goods and services access to those areas through establishing 13 asphalt rural roads in nine governorates and improve 16 other roads in addition to providing the required institutional and consulting services to oversee the implementation of the project. It is a labor intensive project creates many job opportunities, so it will assist in enhancing the social and economic development in those areas.