Kuwait Fund for Arab Economic Development (KFAED) signed an agreement with the Republic of Yemen on Thursday to finance educational projects with USD 60 million.
In a press statement, the KFAED said the funds would be channeled to the launching of Sheikh Sabah Al-Ahmad College in Socotra Island and equipping 12 other community colleges specializing in technical training in 12 provinces across the country.
The agreement aims to support the economic and social development in Yemen, upgrade the performance of the administrative and academic staff of the community colleges in various specialties and prepare and improve the community college's curricula.
Following the signing ceremony, Yemeni Minister of Planning and International Cooperation Mohammad Al-Saadi lauded KFAED as one of the major development partners to Yemen. He added that KFAED play an important role in supporting the human resources development in Yemen.
For his part, KFAED Legal Advisor Hesham Jaafar said that the KFAED is committed to finance development projects in Yemen.