UAE- Mohamed bin Zayed orders allocation of US20 million in support of Yemen

5/15/2016 7:34:33 AM

(MENAFN- Emirates News Agency (WAM))

ABU DHABI, 15th May, 2016 (WAM) -- In implementation of the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has directed the allocation of US$20 million to be invested in support of the small and medium enterprises sector in the Republic of Yemen.

This comes within the framework of the UAE's keenness to support governmental efforts aimed at the empowerment of young people and the promotion of social, economic and political stability in Yemen.

The initiative, which will be implemented and supervised by the Khalifa Fund for Enterprise Development, will include the cities of Aden and Al Mukalla as a first stage and is then to be implemented in other provinces and cities of Yemen in later stages.

The initiative will contribute to strengthening the performance of the Yemeni economy and pushing it towards recovery and growth, along with providing job opportunities for Yemenis and promote the culture of investment and entrepreneurship in the country.

WAM/Esraa/Moran

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