YEMEN Press Agency

Finance Ministry approves 3 mln riyals loan to Electricity Corporation

SANAA, Nov. 14 (YPA) – Ministries of Finance and Electricity on Wednesday signed in Sanaa an agreement, under which the finance ministry is to grant a three million riyals loan to the General Corporation of Electricity.

The agreement stipulates that the proceeds of the loan should be used to purchase diesel and fuel oil required for operating each of Ras Kathib plant in Hodeidah city and Hizyaz plant in the capital Sanaa.

Deputy Prime Minister and Minister of Finance, Dr. Hussein Maqboli, said that the loan came in accordance with directives of President of the Supreme Political Council and the decision of the Cabinet and aimed to help the Corporation to improve its service and to provide electricity for vital installations.