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FINANCIAL NEWS
WB to finance USD206m worth of Yemeni projects
17 Feb 2013
(MENAFN) The World Bank (WB) stated that it will finance several projects in Yemen at a cost of USD206 million, reported Qatar News Agency citing local SABA.
The amount is the first payment of the USD400 million pledged by the bank during the Yemen donors’ conference that was held in 2012.
The amount will be used to fund 3 projects that aim to widen coverage for basic infrastructure facilities and enhance the living conditions of the most underprivileged Yemenis who are suffering due to the effects of the political turmoil, which is still sweeping the country.
The bank added that the projects will be financed through grants given by the International Development Association (IDA) to support the world’s poorest nations.
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