Yemen has been promised an amount of $200 million to be given to it as loan by the Arab Monetary Fund (AMF). The money thus given is going to be used in the restructuring of the economy, said the fund.

On Sunday, the loan agreement was signed by Finance Minister Nu'aman al-Suhaybi along with AMF's Director-General and Chairman of Board of Directors Jassim al-Mannai.

In a statement issued by AMF, it was said that Yemen has to achieve a restructuring program by 2012 and the loan is just to support that. Yemen is considered to be one of the poorest nations of the region.

Meanwhile, the program aims at increasing revenue and giving financial strength to the country along with promotion of non-oil sectors.

Post the disbursal of $200 million, the total amount given to Yemen by the Abu Dhabi-based fund will rise up to $808 million.

One must remember that the fund was set up by the Arab League with an aim to address budget and other financial issues of its 22 members.

With this loan, the number of loans on Yemen will go up to 22.