The World Bank Group’s Board of Directors has approved a new two-year Country Engagement Note (CCN) for Yemen aimed at preserving institutions that provide services to the Yemeni people and promoting food security.
In a statement, the World Bank Group (WBG) said its overarching goal is to support the Yemeni people and preserve the institutions that serve them.
He added that the WBG would remain engaged in the country through several possible scenarios, with a focus on basic service delivery and human capital, as well as food security, resilience and livelihood opportunities. .
“Our $2.8 billion program reflects the World Bank’s investment in preserving Yemen’s development assets and our hope for a brighter future for a generation of young Yemenis who have grown up in the shadow of the war but who will play a key role in the recovery,” said Tania. Meyer, Country Manager for Yemen.
“By increasing our support at this critical moment, we affirm our unwavering commitment to the Yemeni people and the institutions that serve them. »
According to the statement, the war in Ukraine was already having a significant impact on food prices around the world.
“CEN recognizes that with the worsening food crisis and widespread malnutrition in Yemen, short-term interventions alone cannot provide lasting solutions. To help break the cycle of aid dependency, the World Bank will pilot a “continuum of support” approach that brings together short-term and resilience-building interventions in geographic areas where food insecurity is most prevalent. higher,” the statement said.
He continues: “The World Bank recognizes the critical role of the private sector in Yemen’s resilience and growth prospects. The new strategy was prepared by the three components of the Bank Group: the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency. Together, they will redouble their efforts to promote private sector-led solutions to close infrastructure gaps, support job creation and lay the foundations for recovery.