19.03.2012, Jeddah, KSA - In a meeting with Dr. Mohamed Saeid Al Sadi, Yemeni Minister of Planning and International Cooperation and IDB Governor for Yemen, as well as Mr. Sakhr Al Wajih, Yemeni Finance Minister, at IDB HQ, Dr. Ahmad Mohamed Ali, President, IDB Group underlined the importance IDB attaches to providing support to Yemen in circumventing problems towards social and economic development.
The meeting, attended by Dr. Abdul Aziz Al Hinai, VP, Finance, and Mr. Khaled Al Aboudi, CEO, ICD, as well as representatives from ICIEC and directors of the concerned departments, reviewed IDB Group projects currently underway in Yemen and underscored the need for resumption of projects which faced temporary halt in the wake of recent developments in the country. The Yemeni ministers expressed satisfaction over the cooperation and partnership of the Bank with Yemen. The two sides agreed on a
number of support programs for materialization of stability and advancement to the Yemeni economy.
It is worth mentioning that, to date, the value of IDB Group economic and social development projects support in the Republic of Yemen stands at US$ 970 million comprising US$ 370 million from IDB for approved operations as well as US$ 145 million and US$ 455 million from ICD and ITFC respectively.
Also, the value of insured imports and exports to and from Yemen under ICIEC reached US$ 142 million.