New Japanese Debt Relief Grant Aid [Archives:2002/04/Local News]

January 21 2002

Notes concerning a new Japanese Debt Grant Aid amounting up to USD 1,9 million were signed and exchanged on January 13, 2002 at the Ministry of Planning and Development between the Ambassador of Japan to Sana’a and the Minister of Planning and Development. Such grants extended are based on the resolution made by the Trade and Development Board (TDB) of the United Nations Conference on Trade and Development (UNCTAD) to adopt debt relief measures for countries which have been facing serious difficulties in servicing their debts. Yemen and Japan will make use of this best use of this grant for the purchase of products that contribute to the development of Yemen’s economy and the enhancement of the welfare of its people, especially those products that contribute to having better health and environmental conditions like the equipment for Solid Waste projects, in additions to various kinds of products that aim at satisfying other basic human needs requirements like primary health care and education.
Since 1979, when Yemen started to repay its yen loans, which had financed a number of projects, Japan has been providing the Yemen with grants in amounts equal to the total interest and principal repaid. In the past five years, Japan extended to Yemen dept relief grants amount to USD 61 million.