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Yemen: World Bank Grant to Support Private Sector Growth and Social Protection

The World Bank’s Board of Executive Directors approved today a Development Policy Grant for the Republic of Yemen, for the amount of US$70 million, in support of reforms critical to setting the conditions for non-hydrocarbon growth in Yemen, and for improving the protection of the poor and vulnerable. 

Yemen is an oil-dependent economy that faces a rapidly declining oil production. On average, 85 percent of exports and 65 percent of fiscal revenues were derived from oil exports and domestic oil trade since 2000.

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World Bank Supports Bangladesh to Create Employment for the Poor

The World Bank today approved a US$150 million IDA credit to Bangladesh to create employment opportunities for the extreme poor in rural areas during the lean season and monga period. One-third of the employment opportunities will benefit poor women.
Despite commendable progress, around 60 million people in Bangladesh remain poor, with around 35 million of these people still living in extreme poverty.

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World Bank President Praises Reforms In Zambia, Underscores Need For Continued Improvements In Policy And Governance

World Bank Group President Robert B. Zoellick today praised Zambia’s efforts to reform its economy and encouraged its continued efforts to promote inclusive economic growth, especially to create opportunities for rural populations to overcome poverty.

Leaving after his two day visit, Zoellick noted that Zambia was among the top 10 global reformers in the World Bank’s Doing Business report this year.

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World Bank Approves US$10 Million for Economic Diversification in Republic of Congo

The World Bank Board of Executive Directors approved today a US$10 million loan from the International Development Association (IDA) for the Economic Diversification Project (SEDP) in the Republic of Congo.

The project will receive a 50% co-financing from the government raising its total to US$20 million. It illustrates a new type of partnership that is increasingly redefining the relationship between the World Bank and the Government of the Congo Republic,

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The World Bank Supports Russia’s Government Efforts to Improve Financial Literacy, Education, and Consumer Protection of Citizens

The World Bank Board of Executive Directors today approved a US$25 million loan for the Financial Education and Financial Literacy Project for the Russian Federation. This innovative Project will assist the Russian Government in its continued efforts to improve the financial literacy of Russian citizens and their protection as financial consumers.

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