May 30 2012
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Yemen Needs $15B For Econ Recovery; Seeks More Aid -Report
Wednesday, May 30, 2012
BEIRUT (Zawya Dow Jones)--Yemen, which needs $15 billion to set its economy back on track, is seeking more financial aid in the next donors' conference on June 27 and 28, pan-Arab daily Al Hayat reports Wednesday citing Mohammed Al Saadi, the country's planning and international cooperation minister.
The Friends of Yemen meeting that was recently held in Riyadh has pledged $4 billion in financial aid, Saadi said according to the paper, adding that his country had asked the donors for $10 billion to bridge the financing gap and achieve some economic stability during the transition period in the next two years.
Yemen will allocate the $3.25 billion pledged by Saudi Arabia during the Riyadh conference for key development projects specifically in the sectors of electric power, water, healthcare, and reconstruction, the daily quotes Saadi as saying.
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
(END) Dow Jones Newswires
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