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President, FM reviews national, international developments
[10 December 2017]
President meets sheikhs, dignitaries of Mahweet province
[10 December 2017]
President, PM discuss current situation on national scene
[09 December 2017]
President meets Finance Minister, Sana'a Governor
[26 November 2017]
President presides over meeting of judicial, security institutions
[26 November 2017]
 
  Saudi Aggression War against Yemen
Army shells Saudi-paid mercenariesĺ sits in Marib
[10 December 2017]
Five civilians killed in Saud airstrikes on market in Nehm
[09 December 2017]
Saudi enemy launches two air raids on Serwah in Marib
[09 December 2017]
Yemen condemns Saudi aggression air strike on its state TV, journalists killed
[09 December 2017]
Child killed, 13 citizens injured in US-Saudi air raid on Hajjah
[06 December 2017]
 
  Reports
Feature: Untold story on Yemen's tourism, green, peaceful city, safe home for all IDPs■
[12 November 2017]
Report: 49 Yemeni civilians killed in 212 Saudi aggression airstrikes in six days
[05 April 2017]
Roundup: 1107 Saudi airstrikes kill 135 Yemeni civilians in March
[29 March 2017]
Roundup: Saudi kills 15 Yemeni civilians in 112 airstrikes on Yemen in 3 days
[25 March 2017]
Report: Saudi kills 68 in 301 airstrikes on Yemen in 7 days
[23 March 2017]
 
  International
Yemen strongly condemns terrorist attack in Egypt
[25 November 2017]
President al-Sammad sends condolences to Sisi over deadly attack on Egypt mosque
[25 November 2017]
FM meets WFP official
[03 October 2017]
FM meets Russian charge d'affaires
[03 October 2017]
Yemen strongly condemns Las Vegas terrorist attack
[03 October 2017]
  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.


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UPDATED ON : Sun, 10 Dec 2017 19:15:14 +0300