The Saudi Development Fund (SDF) delegation, led by Ibrahim Mohammed Almufleh, Director General of SDF Exports Promoting Program, met here today with Yemen's Undersecretary of the Ministry of Planning and International Cooperation Abdullah Hasan Alshater. During the meeting, they discussed restructuring the finance line presented by SDF to finance electricity projects in a number of Yemeni regions. The meeting also reviewed the outlines of a memorandum of understanding that will be discussed and signed between Yemen and SDF in the near future. Following the meeting, the two sides signed a finance agreement between SDF and Yemen's National Bank for Commerce and Investment. According to the agreement, SDF increases its finance ceiling from 2 million to 4 million U.S. dollars for financing and supporting import-export operations between the Kingdom and Yemen under the guarantee of Yemen's National Bank for Commerce and Investment. Almufleh signed on behalf of SDF while Ahmed Alhamdani, Chairman of the Board of Directors of the bank signed for the Yemeni side.
