YEMEN, WB IN FINANCE MODERNIZATION DEAL

SANA'A, Dec. 22 (Saba) - The Finance ministry signed on Tuesday with
the World Bank a $ 1million deal for funding preparatory activities
for the ministry modernization.

The grant is part of the WB contribution to the project that costs $
15 million, $ 12 million out of which provided by the bank and the
rest from the government.

The project due to be started in the third quarter of 2010 is aimed
at improving mechanisms and tools of preparing the public budget,
fund control and supervision mechanisms and the accounting system.

The deal was singed by deputy prime minister for Economic Affairs,
who is minister of Planning and International Cooperation, Abdul
Karim al-Arhabi and Finance minister Noman al-Suhaibi and the WB's
country director Benson Ateng.

After the signing, al-Arhabi said the finance modernization project
is one of the top government's priorities, pointing to improvements
in the financial system including boosting transparency and the
ministry's performance.

He also appreciated the WB support for Yemen to carry out
comprehensive administrate and financial reforms.

FR