US $3,2 billion for poverty reduction projects in Yemen [Archives:2002/28/Local News]

The Yemeni Parliament has ratified a law for establishing Al Amal credit Bank to help poor people running small enterprises. The bank is the first of its kind in the Arab countries as financially independent bank and complete capacity for achieving its goals. It is expected that the bank capital is not less than US $ 5 million in the first stage with contribution of the Yemeni government, private sector and the Arab Gulf Fund for supporting UN Organization (AGFUND). The Cabinet has recently ratified a strategy for poverty reduction hoping the donor countries to support it.
Official reports indicate that 16% of Yemeni people live under poverty line while people who are deprived of food supplies and non-food supplies like clothes, living, health, education representing 41,8%. The statistics confirmed that this percentage is reflecting the serious living situation of 6,9 million people who suffer of poverty. The report shows that the Yemeni rural areas have 83% of poor and 87% of people who suffer from food shortage.
The poverty alleviation strategy aims at providing the possible conditions to reduce poverty and achieving specific goals to increase job opportunities and providing better basic services and social safety network for the poor.

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