Tuesday, 14 December 2010

Yemen to get $ 640 m funding

Source: Reuters, 14/12/2010

Yemen will get $640 million in funding from international financial funds and institutions to help reduce its budget deficit, pan-Arab daily Al-Hayat reported, citing the country's finance minister.

The Arab world's poorest country has secured $370 million in funding from the International Monetary Fund over the next three years, $200 million from the Arab Monetary Fund and $70 million from the World Bank, Nouman al-Suhaibi was quoted as saying.

Yemen's gross domestic product is expected to grow 7.6 percent this year due to liquefied natural gas production and 5 percent growth in non-oil sectors, the paper said, citing a report.
Yemen has been implementing economic reforms backed by the World Bank and the International Monetary Fund. -

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