IsDB Plans $52M Financing for Yemen in 2011

The Islamic Development Bank will provide $52 million to finance several projects that Yemen intends to carry out in 2011.

The decision was taken during a meeting between Yemen’s caretaker minister of planning and international cooperation, Abdul Karim al-Arhabi, and IsDB Group President Ahmed Mohammed Ali, which was held at the sidelines of the annual gathering among Arab financial institutions that began on Wednesday (April 6) in Damascus, Syria.

The $52 million financing includes $21 million to improve the availability of water in three areas in the capital, Sanaa, $20 million for a fishing sector project, and $11 million to supply the Engineering College at Aden University with essential equipment, Yemen Observer reports.

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About the author

  • Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.