Kuwait to finance Yemeni project

May 27, 2012 at 1:08 PM

SANAA, Yemen, May 27 (UPI) -- The Kuwait Fund for Arabic Economic Development said Sunday it would finance Yemen's electricity distribution project to a value of $30 million.

On the sideline of Yemen Friends conference which took place Wednesday in Riyadh, Saudi Arabia, Kuwait pledged to help the impoverished nation through the financing of the national project.

Abdul-Wahab al-Bader, director general of Kuwait Fund for Arab Economic Development, arrived in the Yemeni capital Sanaa to ink the agreement.

Mareb Press said Sunday Bader expressed Kuwaiti keenness to help Yemen develop its infrastructures and offer better services to its people. He added that the fund would work at fast-tracking the project implementation "as to solve Yemen's crippling electricity shortage."

Lengthy blackouts -- 20 hours at a time -- have plagued Yemen since 2011.

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