EU, WB OFFER GRANTS WORTH $ 53 MLN, €18 MLN TO YEMEN

SANA'A, March 16 (Saba) - Three finance agreements worth $53 million and €18.3 million were signed here on Tuesday between Yemen and the European Union (EU) and the World Bank (WB).

The finance agreements signed by Minister of Planning and International Cooperation Abdul Karim al-Arhabi and EU's ambassador in Sana'a Michele Cervone and Director of the WB's office in Sana'a Ateng Benson, included the areas of local development, social welfare, rural roads and higher education.

The first agreement stipulated that the EU presents an addition grant worth € 18.3 million, to be devoted for funding projects in the areas of local development and the employment-intensive projects under the management of the WB and to finance the cash transfer program for the poor through the Social Welfare Fund, which will serve about 41 thousand beneficiaries.

The second agreement signed by al-Arhabi and Benson stipulated that the WB offers an addition grant of $40 million to help to financing of the second phase of the rural roads project and to allocate $12 million out of the grant value to support the Roads Maintenance Fund , which will serve about 450 thousands beneficiaries.

The third agreement stipulated that the WB gives a finance grant worth $ 13 million, to be dedicated to contribute to developing the quality of higher education through the establishment of a fund to finance university programs.

After signing the agreements, al-Arhabi voiced the Yemeni government's appreciation for the EU and WB contributions to support and enhance the government efforts aiming to reducing poverty and creating job opportunities.

He pointed that the European support to the Social Welfare Fund and the social security network comes within the framework of the fruitful cooperation between Yemen and the EU and the WB in this regard.

For his part, the EU ambassador pointed out the EU's support for the social security net is a part of the EU's ongoing support to alleviate the suffering of the poorest communities in Yemen.

Whereas the WB's official affirmed that the signed agreements comes within the Bank's keenness to continue to support development in Yemen.

BA