Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Yemen's future at Riyadh donor meetings  Join our daily free Newsletter

MENAFN - Arab News - 02/09/2012

No. of Ratings : 0
Add to Mixx!


(MENAFN - Arab News) ON Tuesday (Sept. 4, 2012), Saudi Arabia hosts a donor meeting for Yemen. A second meeting on Wednesday (Sept. 5) will follow, also in Riyadh, dedicated to the role of private sector and humanitarian organizations.

The main objective of this international gathering is to provide enough funding to fill the financing gap of the Yemeni government's transition plan and embark again on the road to economic growth and prosperity. Because development and security are so closely intertwined in Yemen, this is also a pivotal meeting in Yemen's quest for security and stability.

A second, equally important, objective of Riyadh's meeting is to re-establish effective partnership between Yemen and international donors, which was hurt by the political crisis and inefficiency of the previous government.
It is a good sign that some 50 delegations are expected to take part in the twin meetings in Riyadh, including governments and development and humanitarian organizations. What is more important is that they will be generous enough to provide Yemen with the financial resources it needs to pull itself up by its own bootstraps and get out of the economic and humanitarian crisis that has gripped it for the past few years.

This donors' meeting is the first for Yemen since the successful elections in February 2012 have installed the national unity transitional government led by President Abed Rabbo Mansour Hadi. The record of the new government over the past six months has been encouraging as it works to restore law and order, security and stability to Yemen following the crisis caused by refusal of its previous strongman Ali Abdullah Saleh to bow to Yemenis' call for him to leave office after 33 years in power.

The economic and humanitarian crises in Yemen are so bad that they cannot be exaggerated. Consider these indicators that the government has presented to its development partners:

Unchecked population growth, in excess of 3 percent, with two thirds of the population under 24 years of age.
Escalating unemployment, exceeding 50 percent among young people.
Growing illiteracy, as some three million children are denied access to education. There is space for only 70 percent of school-age children of both sexes, even less for girls.
Poverty, as close to 50 percent of the population lives on less than two dollars a day.
Malnutrition, as over 30 percent face hunger and 75 percent do not have access to clean drinking water.

Water resources are running dry, with the situation in some major cities approaching crisis level.

These alarming economic conditions, plus the political impasse and the security situation, have contributed to a grave humanitarian crisis gripping Yemen for some time now, according to extensive reports compiled by the United Nations. Here are some of their findings:

Over ten million Yemenis (40 percent of the population) are suffering some form of humanitarian deprivation. Women, children and refugees are affected the most.
750,000 children under the age of five are suffering from malnutrition, which is double the number at the beginning of the crisis in 2011.
500,000 children are at risk of dying this year if adequate support is not provided.
Clean drinking water is in short supply in many areas, causing a severe rise in water-borne diseases.

Lack of vaccines and medical facilities has led to a 20-fold rise in childhood diseases in some locations since the start of the crisis last year.
Children in many areas are not able to go back to school because their school buildings have been severely damaged or else occupied by armed groups, government forces, or internal refugees.

Government resources to reverse these disturbing indicators have run dry. Oil production was nearly halved over the past decade, drastically reducing its revenue from oil. The security situation has made conditions worse for oil production and transportation, leading to severe fuel shortages and reduced export capacity. The government has resorted to importing fuel and selling it at subsidized prices, a situation that cannot be sustained. Budget deficit has exceeded 10 percent of GDP and foreign exchange reserves are dwindling fast.

The government of Yemen is planning to present before the meetings this week an integrated a program of short-term and medium-term priorities. The program was prepared in coordination and active participation from international organizations and key representatives of the donor community. In the short term, Yemen estimates that it needs 4.8 billion to achieve these four political, security, humanitarian and economic goals:

Peaceful transfer of power and restoring political stability.
Restoration of security, stability and the rule of law.
Meeting urgent humanitarian needs.
Reaching economic stability
Of this total, the government is able to generate only 500 million of its own resources, leaving a gap of 4.3 billion it is asking donors to fill.
On the intermediate term, the Government's transition plan calls for 9.6 billion to fulfill a slightly more ambitious vision that includes:
Reviving economic growth
Improving physical infrastructure
Expand social protection network
Developing human resources, including enhancing of the roles of youth and women.
Enhancing the role of the private sector and improving business climate.
Support for good governance and state building.

Of this total, the government expects to be able to provide only about one billion, and is thus asking the international community to fill the gap.

Without going into details about the figures and the proposed projects to carry out these objectives, what is remarkable about the current government is that it is asking for a real and transparent partnership with the donor community. That would be an important departure from the modus operandi the previous government adopted sometimes in dealing with its development partners.

With the changed attitudes and priorities of the new government, donors are also asked to change their approach to Yemen and give generously in a sustained and predictable manner. GCC donors have shouldered most of the burden so far, with Saudi Arabia in particular scaling up its aid to Yemen dramatically over the past two years. Other donors should follow suit, or else Yemen may relapse to a situation of chaos, poverty and desperation with unpredictable consequences.


  MENA News Headlines
Apr 24 2014Qatar- HH Sheikha Moza Meets Mayor of Kobe Visits RIKEN Research Institution ,Qatar News Agency
(MENAFN - Qatar News Agency) Kobe April 24 - Her Highness Sheikha Moza bint Nasser Chairperson of Qatar Foundation for Education Science and Community Development (QF) today held a meeting with the ...

Apr 24 2014Qatar- Sidra-BMC Event Boosts Biomedical Research Publishing ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - A symposium organised jointly by Sidra Medical Research Centre and BioMed Central (BMC) mulled trends in research and on open access publishing here ...

Apr 24 2014Qatar- Mannai Corp Q1 Net Profit up 73% to QR 150.1 Million ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Exchange listed Mannai Corporation (QE: MCCS) net profit is up 73% to QR 150.1 Million for the first quarter of fiscal year 2014 ending March 31 ...

Apr 24 2014Bahraini firms forecasted to grow 10 pct ,MENAFN
(MENAFN) In a report based on a study of over 650 companies across GCC, Kuwait Financial Centre (Markaz) forecasts a growth of the Bahraini companies' earnings by 10 percent in 2014, Gulf Daily News ...

Apr 24 2014Israeli Army Storms Deir Samit Village West of Hebron ,Qatar News Agency
(MENAFN - Qatar News Agency) bron April 24 - Israeli army forces stormed at dawn Thursday Deir Samit village southwest of Hebron city in the West Bank. The Israeli forces conducted raid and search ...

Apr 24 2014Qatar Airways to add more seats on Doha-Vienna route ,MENAFN
(MENAFN) Qatar Airways plans to offer more 1.700 seats on its Doha-Vienna route beginning from September 2014, according to Gulf News. The company aims to expand the growing passenger demand from ...

Apr 24 2014Qatar- QFC Authority Five-a-Side Football Tournament Kicks Off ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - Qatar Financial Centre (QFC) Authority's first Five-a-side Football Tournament is displaying dribbling skills of executives from Doha's financial ...

Apr 24 2014Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms ,MENAFN Press
(MENAFN Press) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law ...

Apr 24 2014Mannai Corporation net profit soars 73 percent in Q1 ,MENAFN
(MENAFN) Qatar's Mannai Corporation said that its net profit in the first quarter of this year increased significantly, the Peninsula Qatar reported. The group said that net profit in the period ...

Apr 24 2014Afghan Guard Shoots Dead 3 Foreigners in Hospital ,Qatar News Agency
(MENAFN - Qatar News Agency) Kabul April 24 - Three foreigners including a doctor were shot dead and their colleague wounded when a guard of a private Cure Hospital opened fire on them in the ...

Apr 24 2014Uruguay Public Health Minister Meets HE Qatari Ambassador ,Qatar News Agency
(MENAFN - Qatar News Agency) Montevideo April 24 -Minister of Public Health in Uruguay Maria Susana Mu?iz met here on Thursday with HE qatari ambassador to the republic of Uruguay mohamed hassan ...

Apr 24 2014Georgian Justice Minister Leaves Doha ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - HE Minister of Justice of Georgia Tia Tsulukiana left Doha on Thursday morning wrapping up a two-day official visit to the country. An agreement on ...

Apr 24 2014Redefining large AOC launches 28€³ MVA monitors ,MENAFN Press
(MENAFN Press) Display specialist AOC launches its first two 28" (71.1 cm) monitors. The m2870Vhe and m2870Vq feature extra-large 16:9 MVA panels with Full HD resolution, wide viewing angles and high ...

Apr 24 2014King bids to reassure Saudis as MERS deaths hit 85 ,AFP
(MENAFN - AFP) King Abdullah was in the Saudi commercial hub of Jeddah on Thursday in a bid to reassure a worried public as the death toll from the MERS virus hit 85. The Red Sea city has seen a ...

Apr 24 2014Qatar Stock Exchange Down 0.05% ,Qatar News Agency
(MENAFN - Qatar News Agency) Doha April 24 - The Qatar Exchange ended in the red area when trading closed Thursday at 12954.93 points (0.05%) down 6.63 points from the previous closing of 12961.56 ...

Apr 24 2014Finance House Q1 Net Soars 38% to AED 35.51 Million ,MENAFN Press
(MENAFN Press) Finance House PJSC (FH), has kicked-off 2014 on an upbeat note by registering a consolidated net profit of AED 35.51 million for the first quarter of 2014, which is nearly 38% higher ...

Apr 24 2014Mazola launches Sunflower Oil in new 1.8 litre label and packaging ,MENAFN Press
(MENAFN Press) Mazola, one of the leading names in the regional food industry, today announced the launch of its 1.8 litre Sunflower Oil in a brand new pack and label design. The new look perfectly ...

Apr 24 2014Estidama Villa Experience Centre Highlights Benefits of Resource-Efficient Living at Cityscape ,MENAFN Press
(MENAFN Press) The Abu Dhabi Urban Planning Council (UPC) today opened its Estidama villa experience to Cityscape visitors, giving them the chance to explore some of the innovative features designed ...

Apr 24 2014Dusit International reasserts its position as one of Asias leading hospitality groups ,MENAFN Press
(MENAFN Press) Dusit International will reassert its position as one of Asia's leading hospitality groups during the upcoming Arabian Travel Market (ATM), with the attendance of COO David Shackleton ...

Apr 24 2014Software AG Apamas contribution to financial market stability recognized ,MENAFN Press
(MENAFN Press) Dubai, UAE, April 24, 2014 – Software AG (Frankfurt TecDAX: SOW) today announced that its Apama software has been recognized as the industry leading ultra-high performance complex ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Investment Game
Economic Calendar
Financial Glossary

Portfolio Tracker


Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help