Yemen Agrees with World Bank to Support Institutions, Achieve Economic Recovery

Yemen Agrees with World Bank to Support Institutions, Achieve Economic Recovery

The World Bank agreed to support government institutions and achieve economic recovery in Yemen, Prime Minister Maeen Abdulmalik has announced.

Abdulmalik said Yemeni officials met with World Bank and International Finance Corporation officials in Aden.

The meeting resulted in an agreement on boosting the Bank's presence in the interim capital to support partnership and cooperation, respond to humanitarian and development needs, and back state capabilities to achieve stability and recovery.

Abdulmalik noted that the meeting addressed the most prominent challenges and several important issues relating to food security and energy sectors.

He stressed the need to shift to development in Yemen, suffering from the war against the Iran-backed Houthi militia.

The Prime Minister stated that the government is finalizing the plan to utilize international support, including Saudi Arabia and the UAE.

Abdulmalik asserted that all Yemenis hope to rebuild the country after the UN-sponsored ceasefire and the Presidential Leadership Council (PLC) formation.

He explained that his government agreed with the Bank on several points for the next stage, focusing on balancing the emergency response to sustainability with development projects.

They also agreed on financing the productive sectors, fisheries, and agriculture, and activating oversight over international organizations, namely projects funded through the World Bank.

The two also asserted the need