World Bank maintains support for Yemen economic reforms [Archives:2003/642/Business & Economy]

June 19 2003

A World Bank (WB) delegation headed by Mr Mahmoud Ayoub, the regional director the Bank in the Middle East region acquainted themselves with projects implemented in some governorates in Yemen that are funded by the bank. The delegation conducted talks with officials centered on relations between Yemen and the World Bank and made a valuation of the ongoing economic reforms program in Yemen under advice of international experts.
At present the World Bank is offering support for continuous lending within the framework of the program on strategy of fighting poverty through financing a number of development and public services projects aimed at increasing job opportunities and curbing unemployment.
The WB also supports projects of the Social Fund for Development and the project of Public works besides projects of electricity, tourism, fish and strategic industries. Part of the financial plan for this year the WB is currently contributing to funding a number of projects pertaining to water and sewage, development of seaports cities preserving water and soil. The Bank has therefore re-valuated its development plans in Yemen and depends on foreign expertise in supervising some projects and to be certain of their implementation in according to specifications. The WB has succeeded in mustering necessary support for Yemen at the conference of donors in Paris who pledged to grant Yemen government $ 2.6 billion till the end of 2002.
Yemen has promised in return to go ahead in the economic reforms policy, combating poverty, expanding services offered to education and caring for woman issues as well as development of the democratic pursuit in the country.