Italy writes off Yemen’s debts [Archives:2005/835/Local News]

April 21 2005

Yemen and Italy signed an agreement on April 13, regarding exchanging Yemen's debts to Italy.

The meeting minuet included the agreement on the first development projects that is financed in the frame of the agreement of the cancellation of debts which reach to US$ 11 million provided that the agreement will be executed at the beginning of the next year after completing all technical procedures by both the sides.

The agreement was signed by Ahmed Al-Fadhli, Deputy Minister of Finance, representing the Yemeni side and Federica Ferrari Bravo, Director of Middle East Department in the Italian Foreign Ministry representing Italy.