المملكة: Yemen Reconstruction Program: Saudi support exceeded $26 billion
The panel discussion was attended by; Managing Director for Operations at the World Bank, Anna Bird, ministers from the United Kingdom, Belgium, Germany, Somalia, Guinea, and Ethiopia, Vice President of Operations at the Multilateral Investment Guarantee Agency of the World Bank Group, Junaid Ahmed, and a number of decision makers and representatives of international organizations.
The largest supporter of Yemen
He expressed "Sneezing"He expressed his thanks and appreciation to the World Bank Group for its efforts in organizing the round table that brings together leaders from several countries and policy makers, along with leaders from the World Bank Group, in a discussion that reflects its global dimension and importance.
Al-Attas stressed that the Kingdom of Saudi Arabia It contributed to enhancing economic stability in the Republic of Yemen, as it is considered the largest supporter of Yemen over the past decades, as the volume of development, economic and humanitarian support exceeded 26 billion dollars.
Yemeni government budget
He stated that since 2018 the Kingdom has provided direct deposits and grants to the Central Bank and the Ministry of Finance, including a deposit of two billion dollars to cover basic food imports, Additional support, estimated at more than $12 billion between 2012 and 2025, contributed to alleviating the burden on the budget , and reducing the Central Bank of Yemen’s depletion of foreign currency reserves, by providing grants from oil derivatives, stabilizing markets, improving liquidity, and enabling the private sector to work.
He reviewed the development experience of the Saudi Program for the Development and Reconstruction of Yemen and the lessons learned from its development interventions, as the program was based on three axes: supporting the government sector, and investing in infrastructure and human capital, and stimulating the private sector.
He added that this comprehensive framework contributed to strengthening institutions, reducing the depletion of foreign reserves, and enabling ministries to implement more efficient economic and financial policies.
265 projects and initiatives
He pointed out that the program presented more than 265 development projects and initiatives that were implemented in 16 A Yemeni governorate, covering 8 vital sectors, with direct follow-up and supervision from 5 executive offices of the program, at a cost amounting to 1.145 billion US dollars.
The program delegation held a series of bilateral meetings, including a meeting between the delegation with the Yemeni Minister of Planning and International Cooperation, Waed Badib, and another meeting with the Executive Director of the Kingdom’s office at the World Bank Group, Suhail Al-Saeed.
The delegation also met with Martin Ross, International Relations Advisor at the Ministry of Finance in Estonia, and held a meeting with the Senior Advisor to the Executive Director of the World Bank Group’s Board of Directors, Jihan Abdul Ghaffar, in order to enhance international cooperation and support joint efforts to achieve sustainable development in the Republic of Yemen.
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