Japan writes off $8.2 million of Yemen’s Depts [Archives:2005/884/Local News]

October 10 2005

Sana'a- oct.5 The Government of Japan decided to write off Yemen's Debts to Japan for fiscal year 2005, amounting to approximately 8.220.000 US dollars. The decision comes in response to a resolution adopted by the Trade and Development Broad of the United Nations Conference on Trade and Development that urged donor countries to adopt dept relief measures for countries which have been facing serious difficulties in serving their depts..

Not Verbales concerning this debt relief measures were exchange today between the Embassy of Japan and the ministry of foreign Affairs of the Republic of Yemen.

The new Japanese dept relief measures, which started in September 2004, is in the form of cancellation of some of Yemeni debts and gives evidence to the nature of the mutual relations between the two countries that are developing steadily and firmly. When this new debt relief measure started in 2003, 2004 that amount to approximately 17 million US dollars.

The new debt relief measure aims at supporting the strenuous efforts of the Yemeni governments to achieve economic development and to alleviate poverty according to the targets that are embodied in the Yemeni Poverty Reduction Strategy Paper.

Furthermore, the Government of Japan has decided to extend a grant amounting up to 35.425 US dollars to Water and Environment Sanitation Society in Hudaida under the Japanese scheme called ” Grant Assistance for Grass-roots Human Security Projects,” which aims at supporting small-scale community -based projects in basic human needs field, such as primary health care, basic education and welfare in developing countries.

The grant will be used for the construction of elevated reservoir and storehouse to protect the water pump in Mustafa Village, which is located 99 Kilometers south of Hodaidah City. The project aims at providing clean water, reducing sufferings of women and children, encouraging more girls to go to school and improving the health condition of the inhabitants.

Ms. Fatima Jilan, Chairwoman of water and Environmental Sanitation Society and Mr. Yuichi Ishii, Ambassador of Japan to the Republic signs the agreement to this effect last Sunday.