Yemen, UN sign MOU on maritime insurance

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Yemen, UN sign MOU on maritime insurance

[13/08/2023 04:37]

ADEN-SABA
Minister of Transport Abdulsalam Humaid signed Sunday here with the UN Secretary General Assistant, the Regional Director of UNDP Abdullah al-Dardary an initial Memo of Understanding on reducing maritime insurance cost on ships coming to Yemeni ports in liberated provinces.

According to the memo, an insurance deposit shall be deposited in the Insurance Protection Club in London for reducing insurance fees on ships and steamers after the fees increased 16 times over the war and classifying Aden Port of high dangers.
The final agreement will be signed early September of this year.

Minister of transport made it clear that the agreement comes on the basis of Council of Ministers' decision for 2023 regarding approval of insurance deposit worth USD 50 million in cooperation with UNDP to reduce war dangers insurance fees on ships and steamers coming to Yemeni liberated ports.

For his part, the UN official made it clear that the UN supports all plans and projects for reconstruction and realizing economic revival and development in Yemen, as well as transferring from survival stage into development in different domains.

He pointed out that transport sector is prime foundation for improving Yemen's economy and signing the initial agreement will help reduce costs of import and eventually reduce prices of food goods to Yemeni people.