Donors' pledges in Riyadh cover most of Yemeni financial gap: WB
The Source: SANA'A/hadhramaut.info/sabanews.net - 11/09/2012
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World Bank (WB) country manager for Yemen said on Tuesday that the financial pledges announced in Riyadh donor meeting - $6.4 billion - cover big part of the financial gap in Yemen.
During a meeting WB held with state and independent press outlets, Wael Zakout described the Riyadh meeting's outcomes as very satisfactory, saying that the Bank is making all efforts to rally the international and regional support for the Friends of Yemen meeting scheduled for September 27 in New York, USA.
The Bank has begun moves to urge the countries and organizations that did not present their aid to Yemen in Riyadh to announce them in New York, Zakout said.
He said that the Bank would hold a meeting with Yemeni government in the first mid of October to discuss the Yemeni priority projects that would be financed by the WB $400 million grant. He indicated that Yemen and donors have agreed in Riyadh meeting to approve a "mutual accountability framework" that would be on the government's table next week for final approval. The framework defines clearly the transitional government's commitment to improve management system and in partnership with the private sector and civil society, to undertake the necessary reforms, and establish effective mechanisms for the donors-supported programs. The WB official said that the bank intends to present all kind of support required to improve the government institutions' capacities to absorb the foreign aid, stressing there are serious trends from both parties to achieve this goal.
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