| Project Detail |
A loan agreement for KD 6 million was signed in Jeddah on 24th June 2014 to help finance Al-Guida Central Hospital Project in the Republic of Yemen. The loan agreement was signed by H.E. Dr. Mohammed Saeed al-Saadi, Minister of Planning and International Cooperation, on behalf of the Government of the Republic of Yemen. H.E. Mr. Abdlatif Yousef Al Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed the loan agreement on behalf of the Fund. The project aims at supporting the health system, improving medical care, and providing medical supplies in the Al-Mahara Governorate, to in accordance with modern medical treatment techniques. This will be accomplished through the construction of an integrated hospital that provides advanced medical services. The project includes the construction of the hospital building, the specialized units and theatres, and furnishing them with all necessary medical and non-medical equipment and supplies. The project includes the following key elements: 1. Construction and Equipment 2. Technical Services The loan will carry interest at 2.5% per annum and will be repayable over 25 years with a 5 year grace period. The Ministry of Public Health and Population will be the beneficiary of the loan, and will be responsible for implementing the project, which is expected to be completed by the end of 2017. With the signing of this loan, the Arab Funds total contribution to financing projects in the Republic of Yemen now amounts to KD 846.650million. |
