Cabinet agrees on AFD $55 million loan agreement

The cabinet agreed on Tuesday on a loan agreement signed by Yemen and the French Agency for Development (AFD) of € 37.5 million ($ 55 million).
 
The agreement signed on February 22 is stipulated that the AFD loans Yemen the aforesaid amount to contribute to finance the rural area electricity project.
 
In its weekly meeting chaired by Prime Minister Ali Mujawar, the cabinet directed Minister of Planning and International Cooperation Abdul-Karim al-Arhabi in coordination with Minister of Legal Affairs Rashad al-Rasas and Minister of State for Parliamentary and Shura Council Affairs Ahmed al-Kuhlani to follow up the constitutional procedures required for the agreement’s authentication. The project scheduled to be completed by the of 2015 aims to improve electricity supplies for inhabitants in the rural areas and to increase the opportunities for the rural people to obtain power in the regions that have not linked with the electric network via supplying houses with solar energy devices.

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