Donor conference for Yemen raises $4.7B pledges



The donor conference in London ended with $4.7 billion in aid pledges to support poverty reduction programs in Yemen. The amount is $300 million less than what the Arab nation was seeking for the 2007-2010 period. “It is not 100 percent of what Yemen was hoping for, but I think it is an excellent start … A number of donors, including the World Bank, have stated that we are prepared to increase our contributions of course as progress in reforms continues,” Daniela Gressani, World Bank vice-president for Middle East and North Africa, said. Although conceding that the country needs to improve infrastructure, Gressani hopes “to see a significant amount of funds devoted to human development and government institution-building.” Britain earlier pledged $222 million, thus making the event host the largest European Union donor government to Yemen. According to British international development minister Gareth Thomas, “the pledges will help improve the quality of life for the people of Yemen by reducing the number of children who die needlessly every year, allow more young girls to go to school and give the economy a welcome injection of funds.”

Source: Donors pledge $4.7 bln to Yemen (Reuters)

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