$ 480 mn in WB Yemen Aid to Approach MDGs

SANA'A, Oct. 15 (Saba) - The World Bank
has pledged to provide $ 480 million in country aid for Yemen over the next four
years.
The sum would be channeled through the International Development Agency and the
International Finance Corporation and directed to implement 14 development
projects during
2010-2013.
The bank's strategy for Yemen said the aid would be released by the IFD giving $
140 million in 2010, $ 100 million in 2011, $ 120 million in 2012 and $ 120 million
in 2013.
The strategy approved by the WB's CEOs in May this year, noted that the bank will
finance in 2009 five developmental projects including the project of development of
port
cities at a cost of $ 35 million, the second higher education project at $ 10
million, the anti-bilharzias project at $ 20 million, and the fourth Social
Development Fund
project at $ 55 million.
In 2011, four projects would be financed including the finance modernization
project at a cost of $ 10 million, the comprehensive urban development project at $
30 million,
and the healthcare and population project at $ 30 million, and the bank will also
give $ 30 million in "development policy to improve support aid".
In 2012, the bank will finance three projects including the basic education
improvement project at a cost of $ 40 million, the fourth public works project at $
40 million,
and the project of improvement of access to rural areas at $ 40 million.
In the fourth year, the bank will finance the water sector improvement project at a
cost of $ 90 million and the agricultural development project at $ 30 million.
The strategy also revealed likely operations during the last years of the aid that
will need $ 125 million.
These operations may include a loan for development policies over the financial
sector at $ 30 million, the natural gas project at $ 15 million, the project of
safeguard
of Ibb city from floods at $ 30 million, the power project at $ 40 million, and the
Social Welfare Fund project at $ 10 million.
The main goal of the aid, which comes within the WB country assistance strategy, is
to help Yemen meet the third Millennium Development Goals.
According to the strategy, the aid must be in harmony with the goals of the
development plan for reducing poverty, and bound to them that sustainable
development is tied
to progress in other areas including accelerating economic development and
diversifying its components, and supporting the promotion of administrative system,
social and
human development as well as management of limited natural resources and risks.
The bank will also work to provide analysis and consultation assistance to meet the
goals.
FR