Another Japanese Grant to Yemen [Archives:2001/10/Local News]

March 5 2001

Notes concerning Grant Aid for the promotion of economic structural adjustment of the Republic of Yemen have been signed and exchanged on Wednesday February 28 at the Ministry of Planning and Development by H.E. Mr. Ahmed Mohammed Sofan, Minister of Planning & Development and H.E. Mr. Akira Hoshi, Ambassador of Japan to the Republic of Yemen. In accordance with the said Exchange of Notes, the Government of Japan will extend to the Government of the Republic of Yemen a Grant of six hundred million yen, i.e., approximately $5.2 as a contribution to promote the economic structural adjustment efforts by the Government of the Republic of Yemen as well as mitigation of the economic difficulties, including indebtedness of Yemen.
It is worth mentioning that the Government of Japan extended in the past three similar grants for the same purpose totaling 5.5 billion Japanese yen, i.e., approximately $41.5 million.