New Japanese Debt Relief Grant Aid to Yemen [Archives:2001/03/Business & Economy]

The Government of Japan extends to the Government of the republic of Yemen the Debt Relief Grant Aid amounting three hundred sixty three million three hundred ninety nine thousand yen (Y 363,399,000), 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 at 10:00 a.m. today, between H.E. Mr. Ahmed Mohammed Sofan, Minister of Planing & Development of the Republic of Yemen and H.E. Mr. Akira Hoshi, Ambassador of Japan in Sanaa.
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 Hodaidah port, Japan has
been providing the Republic of Yemen with grants in amounts equal to the total interested and principal repaid.

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