Socotra connects to the world

The Ministry of Planning and International Cooperation intends to finish the establishment of Socotra Island’s port in 2013 at a cost of $50 million donated by the Kuwaiti Fund for Arab Economic Development. Additional funds will be provided by the Yemeni government. 
 
The Kuwaiti ambassador in Sana’a Salem al-Zamanan affirmed that this agreement comes at the end of talks held between the officials of the Kuwaiti Fund and the Yemeni officials at the Ministry of Planning and International Cooperation where the stakeholder approved the agreement on November 17, 2009. The Director-General of the Kuwaiti Fund Abdulwahab al-Badr plans participate in the talks.
 
Al-Zamanan pointed out that the project funding depends on the Kuwaiti government at the London Conference of Donors in November to donate financial assistance amounting to $200 million.
 
Al-Zamanan predicts that the port in Socotra will be one of the most essential and strategic projects on the island. He also pointed out that the project would help support economic development on the island through transportation upgrades and trade between the island and the rest of the Yemeni ports.
 
The agreement stipulates that the new port in Socotra must be able to receive ships weighing up to seven thousand tons.
 
Vice Prime Minister for Economical Affairs, the Minister of Ministry of Planning and International Cooperation Abdulkareem Ismael al-Arhabi are expected to sign the final agreement with Director-General of Kuwaiti Fund Abdulwahab Ahmed al-Badr today.

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