New Japanese Debt Relief Grant Aid to Yemen [Archives:2001/26/Local News]

June 25 2001

The Government of Japan extends to the Government of the Republic of Yemen the Debt Relief Aid amounting to 246,795,000 Yen equivalent to approximately US$ 2 million, based on the resolution made by the Trade & Development Board (TDB) of the United Nations Conference on Trade & Development (UNCTAD) as a part of debt relief measures for countries which have been facing serious difficulties in servicing their debts.
Agreements to this effect were signed and exchanged on June 20 between H.E. Mr. Ahmad Mohammed Sofan, Minister of Planning & Development of the Republic of Yemen and H.E. Mr. Masamitsu Oki, Ambassador of Japan to Sana’a.
The Government of the Republic of Yemen will use this grant exclusively for development of Yemen’s economy and the welfare of its people.
During the past five years Japan has extended fifteen debt relief grants amounting to approximately seven billion one hundred sixty two million yen, i.e. equivalent to approximately US$59 million to Yemen.