IsDB pledges $100 million to support Yemen

Dr. Bandar Hajjar, IsDB President, during the Virtual Donors' Conference for Yemen 2020,

JEDDAH — Dr. Bandar Hajjar, IsDB President, announced that IsDB Group’s development assistance to Yemen will amount to $100 million over the next four years (2020-2023), which includes $36.6 million to support the government’s efforts to fight the COVID-19 pandemic.

The IsDB teams are currently engaged with the officials of the government of Yemen to finalize the urgent support in health, agriculture and fisheries sectors identified by the government as requiring urgent support.

Dr. Hajjar, who was addressing the Virtual Donors' Conference for Yemen 2020 organized by Saudi Arabia in partnership with UN, commended the Saudi Ministry of Foreign Affairs and UN Secretary General for having gathered to discuss how best to protect the lives and livelihoods of the people of Yemen.

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

Dr. Hajjar reiterated the resolve of the IsDB Group to continue supporting Yemen to overcome the humanitarian, social and economic difficulties that are threatening poverty alleviation efforts and disease control.

He added that 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, because of debt default, to enable the Bank continue its disbursement on its active portfolio, and that the bank stands ready to join hands and cooperate with the international community, multilateral and bilateral development partners and UN agencies to support Yemen. — SG