Yemen's govt okays loan agreement for 60-MW wind project

Jan 9, 2013 - Yemen's government on Monday approved a USD-65-million (EUR 49.7m) loan agreement to finance a proposed 60-MW wind project in southern Yemen's Taiz governorate, according to local media reports.

Yemen's Minister of Planning and International Cooperation Mohammad al-Saadi signed the loan agreement between the government and the Arab Fund for Economic and Social Development in April last year.

The 25-year loan will carry a 2.5% annual interest rate and will have a 5-year grace period, according to local newspaper Yemen Post.

(USD 1 = EUR 0.764)

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