The Minister of Planning and the Governor of the Central Bank discuss with OPEC Fund, World Bank, and Development Program debt management and support for displaced persons.
- The Minister of Planning and Central Bank Governor met with OPEC Fund President in Thailand.
- They discussed restructuring Yemen's debt and addressing financial arrears to resume funding.
- Minister Al-Faqmi emphasized urgent project approvals for food security and essential services.
- Over 200,000 citizens have been displaced since September due to Houthi military escalation.
Discussions on Financial Delays and Support for Yemen
The Minister of Planning and International Cooperation, Mohammed Al-Faqmi, and the Governor of the Central Bank of Yemen, Ahmed Al-Maabqi, met today with the President of the OPEC Fund for International Development, Dr. Abdulhamid Khalifa. They discussed ways to address the financial arrears owed by Yemen, aiming to resume the Fund’s activities in the country.
Meeting Context and Key Topics
The meeting took place during the annual meetings of the World Bank Group and the International Monetary Fund in Bangkok, Thailand. Participants explored options for restructuring Yemen’s debt, considering the exceptional circumstances the country faces and its ability to meet financial obligations. They also discussed financing the completion of the Hassan Dam in Abyan Governorate before the rainy season to preserve completed work.
Commitment to Technical Support
Dr. Khalifa confirmed the OPEC Fund’s readiness to provide technical support to Yemen and assist in engaging with other international financing institutions.
Accelerating Priority Project Financing
Additionally, Minister Al-Faqmi and Governor Al-Maabqi met with the Executive Director of the World Bank Group, Abdulaziz Al-Mulla, to discuss ways to expedite financing for priority projects. They emphasized the need to enhance support to address the humanitarian and economic repercussions of the recent Houthi escalation and its threats to international navigation in the Red Sea and Bab al-Mandab.
Urgent Project Approvals
Minister Al-Faqmi highlighted the importance of accelerating the approval of urgent projects, particularly in food security and essential services. He called for a stronger presence of the World Bank in the temporary capital, Aden, and urged greater flexibility in managing the project portfolio to redirect allocations toward the needs of displaced persons and affected areas.
Strengthening UN Cooperation
Minister Al-Faqmi and Governor Al-Maabqi also discussed with Alexander De Croo, the Director of the United Nations Development Programme, ways to enhance cooperation in early recovery, support for displaced persons, and improvement of essential services amid the humanitarian and economic challenges facing the country.
Recent Displacement Crisis
Minister Al-Faqmi noted that over 200,000 citizens have been displaced since September due to the military escalation by the Houthi terrorist militias. He stressed the importance of including early recovery and livelihood support for the displaced in the joint response, alongside humanitarian assistance. He emphasized the need to involve government institutions in project implementation to strengthen their management and sustainability capabilities in the future.
Ongoing UN Development Programme Efforts
In response, the UN official confirmed that the Development Programme continues its operations from the temporary capital, Aden, providing technical support for the agreed programme with the International Monetary Fund.
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