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.
- Why India is likely to re-emerge as the UAE's top trade partner
- What's really attracting high net worth individuals to living in the UAE?
- Forbes Middle East reveals names region's 200 most powerful women
- Presidential vacuum, Syrian crisis leaves Lebanon's business leaders more than worried
- Oil wells, taxes, and scare tactics: how the IS has been making money all this time