(MENAFN- Kuwait News Agency (KUNA)) Kuwait Fund for Arab Economic Development (KFAED) and the Yemeni government signed here on Sunday an agreement on financing the upgrade of electricity distribution grid in Aden Governorate, south Yemen, at a cost of USD 35 million.
The agreement was signed by Yemeni Minister of Planning and International Cooperation Dr. Mohammad Al-Saadi and KFAED representative Mohammad Sadeqi in the presence of director of the Gulf Cooperation Council (GCC) office in Yemen Saad Al-Uraifi.
KFAED will contribute KD 10 million (USD 35 million) to the project which covers the areas of Al-Mansoura, Khor Mekser and Al-Khassaf in Aden.
After the signing ceremony, the Yemeni minister lauded the contributions of KFAED to the development of the infrastructure projects in his country.
"The project aims to meet the growing demand for power in Aden Governorate through upgrading the dating grid and launching two power plants and new lines with a capacity of 132 kilo-volt," Dr. Al-Saadi pointed out.
On his part, Sadeqi, who leads a delegation from the fund to Yemen, promised that the fund will continue supporting Yemen in its efforts to improve infrastructure and public utilities and attain comprehensive development.
Eng. Saad Al-Uraifi said the GCC countries and their development funds are keen on helping Yemen's national consensus government to overcome the challenges the transitional stage in the country.Â
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