Arab Monetary Fund grants $200m loan to Yemen

Dubai: The Arab Monetary Fund (AMF) said on Sunday it has given a $200 million (Dh735 million) loan to the Republic of Yemen to support a new economic reform programme.

This most recent financing deal takes the total amount of loans the country has received from the AMF to $808 million, the monetary agency said in an emailed statement to Zawya Dow Jones.

The loan agreement signed yesterday "will support a new economic reform programme that Yemen is expected to implement ... the loan will cover the programme until 2012," the AMF statement said.

Modes of co-operation

The AMF is a 22-member regional Arab organisation, based in Abu Dhabi that aims at promoting the development of Arab financial markets, and establishing policies and modes of monetary co-operation.

Yemen is currently implementing comprehensive reforms with a focus on economic reforms supported by the International Monetary Fund and the World Bank.