Financial and Banking News

AID FLOWS

AFESD Lends $19mn for South Yemen's Electricity Program 

The Arab Fund for Economic and Social Development (AFESD) has agreed to lend South Yemen KD5.9mn ($19.3mn) for a project to link Abyan governorate with the Aden power grid. The loan will also be used to upgrade and modernize some of the country's transformer stations, to install a network control center, and to fund training.