Cabinet ratifies agreement for funding SFD's project-IV

SANA'A, July 20 (Saba) - The
Cabinet ratified on Tuesday the agreement of funding grant of the fourth phase of
Social
Fund for Development (SFD)'s project, signed with the International Development
Association (IDA) on June 28, 2010.
Under this agreement, the IDA will grant the Fund an equivalent amount to 38.7
million units of Special Drawing Rights (SDRs).
The Cabinet instructed Minister of Legal Affairs to take the required procedures to
issue the legal certificate that confirms that the agreement has fulfilled all
necessary
procedures for approval and it has become legally effective and binding to the
Yemeni government under its provisions.
The fourth phase of the SFD project aims at improving ways of access to the basic
services and promoting the economic opportunities for the society and introducing
poverty
through a number of programs including the social and local development program,
which provides small grants for the implementation of sub-projects in infrastructure
and
other services.
The second program focuses on developing the small and smallest enterprises through
providing small grants to build their institutional capacity to enable them to
provide
developmental services in the financial field and businesses.
The third program is based on capacity-building through providing small grants,
commodities, training, and consultative services for implementing the sup-projects
to promote
capacities of chosen governmental agencies, local authorities and organizations
relaying on the local community as well as private sector groups and individuals
within the
SFD's activities.
The fourth program is concerned with creating job opportunities through
labor-intensive projects in the sectors of irrigation and water harvesting and
agricultural lands
rehabilitation.
BA