Yemen Observer: http://www.yobserver.com
Posted in:
Business & Economy
Written By: Observer Staff
Article Date: May 10, 2008 - 6:34:53 AM
The government agreed in its weekly meeting held on Tuesday on two treaties Yemen has signed with the Arab Fund for Economic and Social Development (AFESD).
Upon the first treaty, the AFESD will grant Yemen a loan worth $26 million for improving Taiz airport, while the second treaty stipulates that the fund would contribute financing the project of Sana’a main cross points, the second phase, with $30 million.
The project is composed of carrying out three tunnels in cross points of Hasaba-Amran, al-Matar Street-Arab League Street and Assitteen Street-al-Asbahi City. The project aims at curbing traffic crowds in Sana’a.
The cabinet directed the minister of Planning and International Cooperation and the minister of Legal Affairs to complete legal measures for approving the treaty.