Yemen, SFD, IDB to sign 3 agreements of $265m soon

Ministry of Planning and International Cooperation is to sign, in the coming week in Saudi Arabia, three financing agreements with the Saudi Fund for Development (SFD) and the Islamic Development Bank (IDB)at a total cost of US$ 265 million. Yemen and the SFD will sign on Thursday two financing agreements to contribute to finance Abdullah bin Abdul Aziz Medical City project in Sana'a of US$ 200 million and Sana'a city's main roads intersections project of US$ 50 million. These agreements come as a practical step towards fulfilling the commitments of Saudi Arabia at Riyadh donors' conference 2012, in which the SFD's pledges reach US$ 3,250 million. The value of the projects that have been signed their memoranda of agreement, in the framework of Saudi Arabia commitment in Riyadh 2012, amounted US$ 1.330 million. At his visit to Saudi Arabia, Minister of Planning and International Cooperation Mohammed al-Sa'adi will also sign the loan agreement submitted by the IDB to assist in financing the project of rural growth of US$ 15 million, which is aimed at developing infrastructure of the targeted rural areas. The cost of all signed projects within the framework of the IDB pledges at Riyadh donors' conference reached US$ 65 million. It is worth to mention that, Yemen and the Arab Fund for Economic and Social Development (AFESD) have signed recently three financing agreements of US$ 204 million dedicated to contribute to finance some projects in the country.