The International Development Association (IDA) approved a total of $142.3 million to support four development projects in Yemen during fiscal year 2001, which runs from July 2000 to June 2001. This compares to lending commitments of $160.5 million in FY00 and $181.5 million in FY99.
All commitments to Yemen came from the IDA, the World Bank affiliate that provides funds to the world's poorest countries. IDA's credits to Yemen have 40 years maturity, including a 10-year grace period, and a service charge of 0.75 percent per annum.
In June, IDA had granted Yemen a $45 million loan to finance improvements to a sub-network of roads and in rural areas. Other loans and credit packages were invested in water, education, irrigation and rural development projects. — (Mena Report)
© 2001 Mena Report (www.menareport.com )