World Bank to fund development projects in Yemen
The World Bank (WB) has announced to fund in Yemen three new projects at a total cost of US$ 206 million.
At a press release issued by the WB Friday, the three projects in addition to the under implementation program that worth US$ 700 million to support reconstruction efforts and transition process, represent the first installment of the US$ 400 million pledged by the WB in Yemen donors conference last year.
Those three new projects will be funded via grants provided by the International Development Association (IDA) to support the poorest countries in the world.
The projects aim to expand coverage for basic infrastructure facilities and improve the living conditions of the most disadvantaged groups of society who suffer even now of the more severe effects of the crisis that erupted in recent times in the country.
- Mission impossible? IMF says Jordan needs 7 percent growth to fight poverty and unemployment
- Saudi's strong non-oil growth in February may signal new economic era for KSA
- Worth a gasp? Abu Dhabi’s inflation already up 2.1% in 2014's first two months
- What's the attraction? IIF says UAE’s economic stability wooing foreign capital investment
- Public-private partnerships may be key to take Gulf's economic growth to next level