Minister Badhieb participates in a high-level meeting on development financing at the World Bank.

 

Washington, D.C. – Dr. Waed Badhieb, the Minister of Planning and International Cooperation and Acting Minister of Communications and Information Technology, participated today in a high-level meeting held at the World Bank headquarters. The meeting focused on the International Development Association (IDA21) and was titled “Achieving Results in Times of Crisis.”

During his remarks, Minister Badhieb emphasized the crucial role of the International Development Association as a development partner over the past 60 years. He highlighted the organization’s innovative approach in supporting Yemen amid economic and humanitarian crises, particularly under the framework of fragility, conflict, and violence.

Economic Challenges and Institutional Support

Minister Badhieb pointed out that Yemen’s economy has experienced a staggering 54% decline in real GDP per capita between 2015 and 2023. Despite these significant challenges, he noted that the interventions from the IDA have played a vital role in revitalizing economic activities, providing essential services, creating job opportunities, and supporting livelihoods. He underscored the importance of the IDA’s efforts in enhancing women’s participation in emerging sectors such as solar energy and waste management, as well as the private sector’s role in economic growth, poverty reduction, and social stability.

Call for Simplified Procedures and Adequate Financial Support

Dr. Badhieb urged the need to simplify IDA21 procedures to reduce administrative costs and ensure the sustainable implementation of policy packages aligned with national development priorities. He stressed the importance of providing sufficient financial resources that increase performance-based allocations, while also emphasizing the necessity of avoiding any cuts to grants for countries facing fragility, conflict, and violence.

Notable Attendees at the High-Level Meeting

The high-level meeting featured prominent attendees, including Mark Suzman, CEO of the Bill and Melinda Gates Foundation, who chaired the session. Other notable participants included UN Under-Secretary-General and High Representative for Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States, Rabab Fatima, World Bank Group President Ajay Banga, and several ministers from donor and recipient countries. These included finance ministers from Mauritania, Norway, Haiti, the United Kingdom, Nigeria, and Saudi Arabia, as well as ministers from Sierra Leone, Madagascar, Somalia, Cape Verde, and Kenya.

This meeting marks a significant step toward enhancing global cooperation in development financing, particularly in regions facing severe economic and humanitarian challenges.

 

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