(MENAFN- Qatar News Agency) The Jeddah-based Islamic Development Bank (IDB) last night signed two agreements under the terms of which the Bank will to contribute to the support of the rural development program and the implementation and development of the industrial area in Hodeidah in the Republic of Yemen.
Under the first agreement the bank will provide Yemen with a USD 15mn soft loan as a contribution in a number of infrastructure development projects in rural areas.
In implementation of the second agreement, the bank will manage, support and implement the grant of USD 3.3mn given to the Yemeni government by the transition fund of Deauville Partnership programme, to be earmarked for the preparation of economic and technical studies, legal and institutional support an integrated capacity building of administrative agency for the industrial area in the city of Hodeidah.
The agreements were signed for the Islamic Development Bank the IDB Group President Dr. Ahmad Mohamed Ali and for the Yemeni government by the Minister of Planning and International Cooperation, and Governor of the Islamic Development Bank Dr. Mohammed Saeed Al-Saadi.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.