$22 MLN FOR FINANCING ECONOMIC OPPORTUNITIES, LITERACY PROJECTS IN YEMEN

SANA'A, Nov.16 (Saba) - Ministry of Planning and International Cooperation and Islamic Development Bank (IDB) sign here on Monday the minutes of the meeting on preparing the economic opportunities draft and professional literacy project evaluation.

The minutes includes the Islamic Bank's commitment to contribute to financing the economic opportunities draft with $11 million aiming at reducing poverty in a number of rural areas in Yemen beside contribution of the International Fund for Agricultural Development (IFAD) with $10.6 million and French Development Agency (AFD) with
$2.2 million.

Furthermore, the minutes also stipulated allocating sum of $11 million by IDB for funding the professional literacy project in addition to the contribution of The OPEC Fund for International Development (OFID) with $9 million and Yemeni government with $1.5 million from the project's cost.

Minister of Planning and International Cooperation Abdul Karim al-Arhabi praised the IDB's contribution to support the development process in Yemen, confirming Yemen's keenness on strengthening the current and future cooperation with the bank.

On the other hand, an agreement was signed here between Yemen and UNDP to allocate amount of $1.3 million for financing the second phase of the sustainable management of natural resources project.

The Yemeni government contributes in this project with $400,000, while the UNDP with $800,000.

Al-Arhabi affirmed the project aims at developing mechanisms for protecting the nature protected areas ,topped by Bura area and the wetlands in Aden province and Hof area in Mahrah province.

BA