Yemen, WB sign finance agreement
The Source: WASHINGTON/hadharamaut.info/sabanews.net - 06/01/2011
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Yemen and the World Bank (WB) signed here on Thursday a finance agreement for the public finance modernization project in Yemen at a cost of 12 million units of Special Drawing Rights (SDRs).
The project aims to enhance and improve the financial administration and raise its efficiency and transparency through providing supportive systems and capacity-building of the public finance institutions.The project includes promoting decision- making mechanisms for the budget management, developing the financial administration information systems, enhancing the capacity of public procurement institutions and the Central Organization for Controlling and Auditing, and developing capacities of the project's administration.The agreement was signed by Yemen's ambassador to the U.S. Abdul-Wahab al-Hajri and the acting vice president of the WB for the region affairs.
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