IDB Provides US$ 50 Million Youth Employment Support to Yemen
Jeddah, KSA, 11.03.2013 – During the 5th ministerial meeting of “Friends of Yemen” hosted by the British Foreign Ministry in London, UK, last week, the Chairman of the IDB Group, Dr. Ahmad Mohamed Ali, signed a US$ 50 million agreement with Dr. Mohammed Saeed Al-Sa’adi, Yemeni Minister of Planning and International Cooperation and IDB Governor for Yemen.
The agreement, signed in the presence of Alan Duncan, the British Minister of State in the Department For International Development (DFID), aims to provide economic empowerment to the needy Yemeni youth and families by contributing to capacity building and providing them with production inputs for job creation in various fields such as construction of rural roads and irrigation canals, reclaiming agricultural lands, harvesting rain water, coffee cultivation and bee-keeping, etc. The financing arrangement is expected to pay great attention to employment of less-privileged females as well as the youth who will be employed in these projects.
The agreement, similar to those signed earlier with Tunisia, Egypt and Libya, comes within the framework of the US$ 250 million Youth Employment Support (YES) Program launched by the IDB in 2011 to assist job creation for the youth in IDB member countries in the Arab World affected by the recent developments.