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Yemen to get $92m for airport expansion

Author:

M. Ghazanfar Ali Khan, Arab News Staff

Publication Date:

Thu, 2001-04-19 04:53

RIYADH, 19 April — The Arab Fund for Economic and Social Development will extend a $91.8 million soft loan facility to Yemen for the expansion of Sanaa airport. This was announced here yesterday on the second day of a joint meeting of the Arab League finance ministers, chiefs of the central banks and heads of the Arab financial institutions.

A fund official said the agreement was signed by Abdullatif Al-Hamad, AFESD chairman, and Ahmad Sufan, Yemen’s planning and development minister. The loan will be repaid over a period of 25 years. The Arab fund has already extended $969 million to finance various projects in Yemen, said the official.