HQ Operations Hub, GCC & Yemen holds a Technical Meeting with the Government of Yemen

Jeddah, Kingdom of Saudi Arabia, 17 June 2021 - A Yemeni delegation has visited the Islamic Development Bank headquarters in Jeddah to discuss the developing relations between the Bank and the Republic of Yemen.His Excellency Dr. Waed Abdullah Badheeb, Minister of Planning and International Cooperation (IsDB Governor) led the delegation with the participation of Mr. Tariq Salem Al-Akbari, Minister of Education, Dr. Nizar Abdullah Basheeb, Deputy Minister of Planning and International Cooperation, Dr. Muhammad Ahmed Al-Hawri, Undersecretary of the Ministry of Planning and International Cooperation (Alternate Governor), Mr. Abdullah Othman Al-Mikhlafi, Head of the Technical Office at the Ministry of Education, and Mr. Radfan Muhammad Haitham, Deputy Director General of the Office of the Minister of Planning and International Cooperation.

Following a courtesy meeting with His Excellency the President, a technical meeting was held to discuss the Bank's portfolio in Yemen and other aspects of future cooperation with IsDB Group. This Technical meeting was organized and led by the HQ operations Hub, GCC & Yemen, CRS (Brother Hassan Abdelmagid Musa, Brother Faisal AlJehani, Sister Munira Abdalwahid, and Brother Asim Al-Shami) in the presence of all members of the Yemeni delegation and the participation of Representatives from  the Office of the President (Brother Mohammad AlSaati), the Islamic Corporation for the Insurance of Investment and Export Credit (Brother Yasser Alaqi), the Islamic Corporation for the Development of the Private Sector (Brother Youssef Aboul-Naja), the International Islamic Trade Finance Corporation (Brother Khaled Habib), Scholarship Division (Brother Lakdhar Kadkadi), and King Abdullah bin Abdulaziz Program - KAAP(Brother Mohamed Suhail).

During the meeting, various technical topics were discussed including the issue of restructuring of two delayed projects to projects related to COVID-19 Strategic Preparedness and Response Plan (SPRP) for a total of US$ 36.6 mn, and rescoping of three dormant projects for a total of undisbursed commitments of US$ 23 mn

Additionally, the team discussed the portfolio of projects under implementation such as the US$ 11 million Education grant under Global Partnership for Education (GPE), where IsDB is the Grant Agent. The two parties agreed on a road map to move forward and accelerate the implementation of this project. It is worth noting that this project is part of the COVID-19 SPRP Program under recovery and resilience track.  Another operation is the Transition Fund Grant to Build the Institutional Capacity for Recovery and Reconstruction in Yemen: It is a US$1 million grant that the Bank is implementing as an Implementation Support Agency (ISA).

The bank also briefed the Yemeni delegation on the executive agreement that the bank concluded on May 20, 2021 with the Saudi Program for the Development and Reconstruction of Yemen (SPDRY) and explained the six tracks of cooperation included in the agreement. The Yemeni delegation welcomed the initiative and cooperation with the program, hoping that the program would contribute to supporting projects and enhancing the capabilities of national institutions and their cadres in implementing projects.

On the other hand, the prospects for cooperation between the Yemeni government and the Bank Group members were discussed. The representatives of the Group made a presentation on their activities in Yemen. They also indicated that the Yemeni government can request to benefit from trade finance services for strategic commodities, insurance on Investment risks and insurance coverage for commercial transactions (exports or imports), funding for the private sector can also be enhanced if the political situation stabilizes.

At the conclusion of the meeting, the visiting delegation praised the warm reception and the fruitful discussions that took place which will enhance cooperation between the two parties. The Bank also praised the openness, flexibility and support that the Yemeni delegation confirmed to the Bank in order to enhance cooperation.