Islamic Development Bank Group announces US$100 million committed to Yemen

The Islamic Development Bank Group (IsDB) has just announced that US$100 million will be given to Yemen over the next four years. The announcement was made at the virtual pledging event for the humanitarian crisis in Yemen, hosted by the Government of the Kingdom of Saudi Arabia in Riyadh and the UN Headquarters in New York.

 

Full statement from H.E. Dr Bandar Hajjar, President, Islamic Development Bank Group

The Islamic Development Bank is very pleased to be invited to this high-level pledging event for the humanitarian crises in Yemen.  IsDB is also very confident that under the joint leadership of the Government of the Kingdom of Saudi Arabia and the United Nations, this event will conclude in strong humanitarian support for the Republic of Yemen.

I commend the UN Secretary General and Saudi Ministry of Foreign Affairs for having gathered all of us to discuss how best to protect the lives and livelihoods of the People of Yemen.

The IsDB is committed to support the social and economic development of Yemen, which is a founding member of the Bank. Since its inception, IsDB Group has provided more than US$1 billion financing to Yemen. The active portfolio is currently composed of 17 operations amounting to US$214 million which are under active implementation despite the difficult conditions on ground. 

I would like to emphasise the resolve of the IsDB Group to continue supporting the Republic of Yemen to overcome the humanitarian, social and economic difficulties that are threatening poverty alleviation efforts and disease control. This is manifested by the approval of the IsDB Board of Executive Directors to exceptionally lift the operational suspension on Yemen for the past four years to enable the Bank continue its disbursement on its active portfolio. The Bank stands ready to join hands and cooperate with the international community, multilateral and bilateral development partners and UN Agencies to support the Republic of Yemen.

Excellencies, Distinguished Delegates -

I am pleased to announce that IsDB Group’s development assistance to Yemen will amount to US$100 million over the next four years (2020-2023). This amount includes US$36.6 million already under discussion to support the Government’s efforts to fight the COVID-19 pandemic. Currently, our teams in the Bank are actively engaged with the Officials of the Government of Yemen to finalise the urgent support in health, agriculture and fisheries sectors identified by the Government as requiring urgent support.

I would like to conclude by reiterating the IsDB Group’s commitment to support the socio-economic development efforts of Yemen.

Thank you.