Arabia agreed yesterday to lend Yemen SR1.125 billion ($300 million)
to finance development projects in the country. The Saudi minister of
finance and national economy and Yemen’s planning minister have
signed an agreement in this regard.
The agreement came
during a meeting of the Saudi-Yemeni Coordination Council, which was
chaired, on the Saudi side, by Prince Sultan, second deputy premier
and minister of defense and aviation. Prince Sultan, who returned to
Jeddah yesterday after a three-day visit to Yemen during which he also
held talks with President Ali Abdullah Saleh, said the funds would be
used to finance power, road and training projects.
According to a
communiqué issued after the Council meeting yesterday, the two sides
have assigned the related authorities to study a plan to set up a
The two countries
called for more efforts to strengthen Arab solidarity, and denounced
brutal Israeli attacks on unarmed Palestinian civilians. “The two
sides stressed that the recent Israeli-Palestinian cease-fire accord
will not succeed unless Israel stops its attacks and withdraw its
forces from the Palestinian territories,” the communiqué said, and
called for total Israeli withdrawal from all occupied Arab land.
The two sides also
urged the UN Security Council to take action to protect the
Palestinians’ life and property and to save them from the pathetic
conditions they live in. They pledged all-out support for the
have witnessed remarkable improvement since the two countries signed a
landmark border treaty last June, ending a 60-year-old territorial
dispute. President Saleh visited the Kingdom last month to explore
ways of boosting bilateral ties.
Prince Sultan said
there are about one million Yemeni guest workers in the Kingdom.
“We should agree
on positive means to ensure Saudi and Yemeni security and safeguard
the rights of the Yemeni workers,” he said, adding that the
regulatory measures in this regard would continue. On his talks with
Saleh, Prince Sultan said the Yemeni president supports every joint
effort by Saudi and Yemeni peoples as well as the governments.
Minister Dr. Abdul Qader Bajammal said the two sides had agreed on
moves to reschedule Yemen’s foreign debt. Prince Sultan earlier laid
the foundation stone for a $100 million hospital project in Sanaa
being set up by the Saudi-German Group.
Bajammal said the
two sides have signed agreements for cooperation in marine
transportation and media. “We will sign more accords in the areas of
youth and sports, health and trade soon,” he added.
said the two sides had agreed to continue talks on moves to avoid
double taxation, promoting joint investments and customs cooperation.
The meeting welcomed the formation of Saudi-Yemeni Business Council
and hoped that it would boost joint investments in various areas.
communiqué said the two countries agreed to cooperate in oil and
mineral sectors and said the concerned ministers were authorized to
make follow-ups in this regard.