Yemen News Agency (SABA)
Home      Local   International   Saudi Aggression War against Yemen   About Yemen   Civil Society   Economy   About Saba  
Search | Advance Search
 
  Local
Analysis of bids for T-bills worth more than YR 84 milliards in Yemen's Central Bank
[15 November 2018]
FM congratulates his Palestinian counterpart on National Day
[15 November 2018]
Foreign Ministry condemns killing of Yemeni citizen in Mahra
[15 November 2018]
President al-Mashat appoints presidential adviser
[15 November 2018]
Saudi-led artillery bombards Thawra Hospital in Hodeidah
[15 November 2018]
 
  Saudi Aggression War against Yemen
3 Saudi-Led Airstrikes On Hajjah
[15 November 2018]
3 Saudi-led airstrikes hit Hodeidah
[15 November 2018]
Army kills dozens of Saudi-led mercenaries injured others in Hodeidah
[15 November 2018]
US-Saudi aggression coalition hit border populated areas in Saada
[15 November 2018]
Army sets up ambush for 3 Saudi-led mercenaries' gatherings in Jawf
[15 November 2018]
 
  Reports
Report: Army inflicts heavy casualties on Saudi-paid mercenaries in all fronts
[15 November 2018]
Reports: Saudi aggression wages provinces in the past 24 hour
[15 November 2018]
11 civilians killed, injured, series airstrikes on Hodeidah, Saada provinces
[14 November 2018]
At least army launches 1451 targeting operation against coalition's invaders in west coast : Report
[12 November 2018]
Report: Series of Saudi' airstrikes hit provinces in the 24 hours
[12 November 2018]
 
  International
Russia is ready to work on a peace treaty with Japan : Putin
[15 November 2018]
Russian Foreign Ministry urges EU to inventory bilateral relations
[15 November 2018]
Earthquake measuring 6.5 degrees hits the Russia's Kamchatka
[15 November 2018]
Putin warns Europe of neglecting the tragedy of Syria's consequences
[15 November 2018]
6 Israelis injured in a stabbing operation in occupied al-Quds
[15 November 2018]
  Economy
WB offers $ 90 mln grant to support poor in Yemen
[10/December/2014]

WASHINGTON, Dec.10 (Saba) – The World Bank (WB) approved on Wednesday a $ 90 million grant to prop up the Yemeni government's program aiming to protect the poorest groups.

The grant amount is an urgent support for the government to fund a program of cash transfers provided to over one million poor families through the Social Welfare Fund (SWF), which is the main social security network program in Yemen, according to a statement issued by WB.

In the absence of strong rates of economic growth and job creation, there are still many families struggling to meet the most basic needs of living, the statement pointed out.

The statement elaborated that the transfers will ensure delivering cash assistance to the poorest families during this period, in which the country faces a set of economic difficulties that worsened as a result of the measures taken recently by the government and related to lifting fuel subsidies.

"Yemen spends on fuel subsidies more than it spends on education and health care services together", said Wael Zakout, director of WB office in Yemen.

Reforming the fuel subsidies system will help in reducing the significant deficit in the general budget and directing the fiscal resources to the items that serve the poor interests, Zakout added.

According to the statement, the program is a part of a larger response of donors that has been coordinated to address the economic challenges facing Yemen in the current period. An additional amount of $ 28.47 million was provided by the U.S. in support of the cash transfers program.

"More than half of Yemen's population lives below the poverty line", head of the WB team in charge of the program Lire Ersado said. He added almost a similar number of people suffer from food insecurity and need immediate assistance.

Ersado continue to say "We respond by supporting cash transfers to about 7 million Yemenis, who are most likely to suffer and more than half of whom are women. "

The current WB portfolio in Yemen includes 35 projects with a net fiscal links amounting to US $ 1.1 billion.


BA
Saba
  more of (Economy)
UPDATED ON : Thu, 15 Nov 2018 23:09:40 +0300