Over $ 1 billion in IDA aid to Yemen during 2001-2013

SANA'A, Dec. 19 (Saba) - The
World Bank has announced that the International Development Agency is financing 21
developmental
projects in Yemen with more than $ 1 billion under the country assistance strategy
for 2010-2013. The funds already spent were estimated at $ 478 million, directed for
16
projects and including extra finance. There is still an amount of $ 684 million to
be released over the rest strategy period. The aid, most spent, included extra
finance
by the agency, according the strategy, which also noted that the extra finance is
deemed a most effective way to gradually spend the aid portfolio. A large part of
the IDA'
program was focused on facing recent and emergent priorities such avian flu, food
crisis and floods. Despite major obstacles in the country, credit performance was
satisfactory,
with only a few projects whose evaluations were fairly good. The unsatisfactory
project rate decreased from 50 percent in 1995 to 6 percent in 2009, while the used
loans
rate increased from 10
percent to 23 percent during the same period. FR