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Yemen receives $1bn loan from Saudi Arabia

: Sunday, May 04 - 2014 @ 10:22

Saudi Arabia, which co-chaired the “Friends of Yemen Group” conference in London, has allocated most of the $3.25bn in aid it pledged to neighbouring Yemen, Arab News has reported. “The kingdom has deposited $1bn in the Yemeni Central Bank in the form of a loan,” said Abu Bakr Al-Qirbi, Yemeni foreign minister, who was speaking after the conclusion of the London conference last week. The $1bn loan is in addition to several other projects being funded by the kingdom and its aid agencies, like the Saudi Fund for Development (SFD) in Yemen.

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Sunday, May 4- 2014 @ 10:22 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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