92 Million Dollar loan for the Development of the Sanaa Airport [Archives:2001/17/Local News]

April 23 2001

Yemen is to receive a 91.8 million dollars worth of loans from the Arab Fund for Economic and Social Development ( AFESD) to be used for development of Sanaa airport.
Yemen’s Minister of Planning and Development Ahmed Sofan and chairman of the Kuwait-based fund Abdullatif al-Hamad Wednesday signed an agreement to this effect in Riyadh while attending meetings of the Arab Monetary Fund. According to the agreement the loan will be repaid over 25 years, with a six-year grace period and an annual interest of 3%.