Yemen Monitor / Newsroom:
The Yemeni government has discussed ways to enhance cooperation with the Islamic Development Bank (IsDB) as the country faces mounting financial pressures and complex challenges in financing development and reconstruction projects.
During talks with IsDB President Muhammad Al-Jasser, the Minister of Planning and International Cooperation, Afrah Al-Zouba, stated that the government seeks to expand the scope of the partnership to include vital sectors such as energy, agriculture, and education. This comes as part of an initiative to prepare a new cooperation program focused on urgent priorities.
These movements take place against a backdrop of ongoing financial commitment hurdles. The two parties discussed the file of accumulated debt owed by Yemen since 2016, along with options for debt rescheduling or securing external support to contribute to partial repayment, thereby easing the pressure on public finances.
Officials believe that addressing the debt file is a fundamental step toward unlocking new concessional financing, particularly in sectors linked to reconstruction and the improvement of basic services.
Yemen, which is facing one of the world’s worst humanitarian crises, relies heavily on international support to fund its development projects in light of declining local resources and persistent economic challenges.
The President of the Bank affirmed the institution’s understanding of the exceptional circumstances the country is enduring, noting continued support while emphasizing the importance of reaching practical solutions for the debt issue to bolster financing opportunities in the coming period.
