By:almotamar.net - The Japanese Embassy to Sana'a announced that the Japanese government had decided to write off 7.8 million of Yemen's debts.
According to a statement released by the Embassy, the Japanese government's decision falls into line with the The United Nations Conference on Trade and Development (UNCTAD)'s decision which appealed to donors to take measures to alleviate the debt burden on countries facing difficulties paying back their debts.
This move is also meant to support the Yemeni government's efforts aiming at achieving economic development and fighting poverty and is a reflection on the distinguished Yemen-Japan relationships.
Japan had earlier promised to write off $60 million by 2012.
It is noteworthy that the Japanese government had written off $17 million in Sept 2004 as a part of the first phase of a program meant to alleviate Yemen's indebtedness towards foreign donors. The program was ratified by Paris Club's countries in order to boost development efforts in Yemen.
France also wrote off last year 2.6 million euros and agreed to reschedule some 50 million euros based on Naples conditions according to Paris Club's minute signed by Yemen and donors at the Paris Club.