New Japanese Debt Relief Grant Aid to Yemen [Archives:2000/36/Local News]

The Government of Japan extends to the Government of the Republic of Yemen the Debt Relief Grant Aid amounting one hundred forty eight million nine hundred ninety three thousand Yen (148,993,000,) based on the resolution made by the Trade & Development Board (TDB) of the United Nations Conference on Trade & Development (UNCTAD) to adopt debt relief measures for countries which have been facing serious difficulties in servicing their debts.
Notes to this effect were signed and exchanged Last Monday between Mr. Ahmad Mohammed Sofan, Minister of Planning & Development of the Republic of Yemen and Mr. Akira Hoshi, Ambassador of Japan to Sana’a.
The Yemeni government will use this grant exclusively for the purchase of products that contribute to the development of Yemen’s economy and the enhancement of the welfare of its people.
Since 1979 when Yemen started to repay its Yen loans which had financed the rural water supply projects, the project for the construction of Ras Katneeb power station and the project for the construction of the berth of Hodeidah Port, Japan has been providing the Republic of Yemen with grants in amounts equal to the total interest and principal repaid.

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