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MENAFN - Kuwait News Agency (KUNA) - 02/09/2012

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(MENAFN - Kuwait News Agency (KUNA)) The World Bank has urged the international community and world organisations to provide financial and technical support to Yemen in order to aid and protect the political interim process in the country.

The World Bank's Country Manager for Yemen Wael Zakout said that the Yemen donors' conference scheduled in Riyadh, Saudi Arabia, on Tuesday presents an opportunity for several issues to be discussed, namely the challenges facing Yemen, the type of support needed to regain essential services, the creation of jobs and means to get the economy back on track.
The GCC-brokered initiative on Yemen - which opened the door for the exchange of the government in a political transition - solved the political dimensions to the country's crisis, and maintaining this transition requires serious financial and technical support over the next few years.

He noted to several economic and social challenges facing Yemen, as at least over half a million people live on less than two dollars a day while the average of malnurishment amongst children under five is over 50 percent - the second highest average in the world.

There is huge pressure on the government, which has limited resources, to expand in neccassary infrastructure like schools and health services. With this, the interim government has concieved an ambitious plan, with precise targets and priorities for the next two years, which requires a deficit to be covered of USD 11.9 billion, he said.

During the upcoming conference, he said, a declaration forming a mutual accountability framework will be officially unveiled by Yemen's interim government and the international community. This will put into place mechanisms to monitor the fulfillment of obligations adopted by both parties.

 






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