Islamic Development Bank Resumes Financing of 3 Strategic Projects In Yemen

Publish June 27, 2021
islamic finance

A Yemeni government official said that the Islamic Development Bank Group agreed to resume financing three strategic and vital projects in the south of the country, in the areas of agriculture, water and sanitation, in addition to rural development.

Dr. Nizar Basuhaib, Deputy Minister of Planning and International Cooperation, said in remarks to Asharq Al-Awsat that a meeting held in Jeddah with the Islamic Development Bank management resulted in the approval of resuming several strategic projects in Yemen that would have a significant impact on improving the life of the population.

“We had a fruitful meeting with the Islamic Bank in Jeddah, and it was agreed to activate three important and strategic projects for Yemen, including the agricultural project in Abyan, the water and sanitation project in Lahij, and rural development in several liberated governorates,” he stated.

Basuhaib noted that the Yemeni delegation visiting Saudi Arabia, headed by Dr. Waed Badheeb, Minister of Planning and International Cooperation, also met with Muhammad Al Jaber, the Saudi ambassador to Yemen and the general supervisor of the Saudi Development and Reconstruction Program for Yemen (SDRPY), to discuss the project efforts in the country.

“Discussions included strategic planning between the two countries, investments and strategic projects, in addition to raising the capabilities of empowerment, training and rehabilitation,” he underlined, adding that the meeting was successful.

He added that both sides have agreed to develop “a joint strategic plan in the areas of economy and investment, enhance training and rehabilitation, and exchange experiences.”


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