The World approved US$30 million in two new grants to the Internationally Recognized Government of Yemen to help strengthen digital financial infrastructure and sustain access to basic education for children in most disadvantaged areas.
The first grant of US$20 million will finance the Yemen Financial Market Infrastructure and Inclusion Project, implemented by the United Nations Development Programme (UNDP).
The second, a US$10 million grant, will support the Sustaining Education and Learning Project, implemented by the United Nations Children’s Fund (UNICEF).
More than a decade into the conflict, Yemen remains one of the most fragile and poorest countries in the world. The crisis has deeply disrupted the provision of public services, fragmented institutions, and contributed to the erosion of human capital.
Dina Abu-Ghaida, World Bank Group Country Manager for Yemen, said:“These new operations reflect our continued commitment to supporting the people of Yemen in meeting their most urgent needs,” adding: “By investing in core -infrastructure that enable children to stay in school and families to access financial services, we aim to preserve human capital and support more inclusive, resilient service delivery.”
The Yemen Financial Market Infrastructure and Inclusion Project will support the development of digital payments systems, including a Fast Payment System and a Real Time Gross Settlement System under the Central Bank in Aden.