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Session of talks in Aden between the government and the WB leadership

[27/06/2022 03:36]

Aden - Saba
A high-level official discussion session was held in the temporary capital, Aden, between the government, the World Bank and the International Finance Corporation. The government's team was headed by Prime Minister Dr. Maeen Abdul-Malik.

During the talks, they reviewed the existing areas of cooperation between the government, the World Bank and the International Finance Corporation, future plans to meet the current global challenges, support the government's ability to deal with them, balance the emergency response and development interventions to achieve sustainability, provide job opportunities, and focus on basic service sectors.

The discussions dealt with joint coordination for the preparation of sectoral policies that define priorities in various sectors and sources of funding, and the search for funding sources for them through donors, as well as technical and logistical support for the Central Bank, public finance and state institutions to carry out their duties, in addition to supporting the continued implementation of the policy of economic, financial and monetary reforms.

They discussed the possibility of providing facilities from the International Finance Corporation to support the import of wheat and basic materials and enabling the Yemeni private sector to have quick access to financing wheat purchases in the global market and imports was also discussed.

At the beginning of the talks, the Prime Minister welcomed the delegation of the World Bank and the International Finance Corporation and their visit to the temporary capital, Aden, and the support it provides to the government in the humanitarian, economic, developmental and institution-building aspects, noting the joint work that has been accomplished during the past period and the need to strengthen this cooperation in parallel witht the current global developments, which imposed additional pressure on the government, especially in the aspect of food security in wheat and basic materials, and the high prices of them globally.

Dr. Maeen Abdulmalik expressed the government’s welcome to the World Bank Group’s move to activate its presence in Yemen, stressing that the government is keen to continue the partnership with the World Bank in vital sectors, stressing that the basic principles are to focus on the issue of economic stability, and to discuss all possible opportunities to achieve this. Priority should be given to support the productive sectors in a way that enables them to recover and contribute to the development of state revenues, partnership with national institutions, enhancing their capabilities, and monitoring the performance of international organizations implementing Bank projects, and preserving and developing the private sector.

The Prime Minister briefed the World Bank and the International Finance Corporation on the challenges facing the government in the economic, service and humanitarian aspects, the progress made in implementing economic, financial and monetary reforms and its vision in this aspect, based on the directives of the Presidential Leadership Council, and the international support required for its continuation, which is reflected in achieving economic stability and price exchange of the national currency, pointing to the importance of partnership with the World Bank and benefiting from its experiences in designing a portfolio of service and vital projects.