After almost a year of crisis, Yemen has embarked on a political transition based on an agreement brokered by the Gulf Cooperation Council (GCC) in November 2011. Yemen started a 565-member National Dialogue process in March 2013, which concluded in January 2014 with the decision to transform Yemen into a Federal State.
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The World Bank will provide an additional US$50 million grant to an ongoing program to expand access to basic services in Yemen by putting local communities in charge of infrastructure projects.Read More »
According to the latest Global Economic Prospects report, Yemen has made some progress since the 2011 crisis in recovering the economy and advancing the political transition. However, the fledgling economic recovery remained insufficient to make a dent in unemployment and poverty. In 2014, the macroeconomic situation weakened further, with continued sabotage of oil facilities leading to a decline in oil revenue and, therefore, a deterioration in the fiscal positions and severe fuel and electricity shortages. Read More »
The World Bank approved an emergency grant of US$90 million to reinforce the Yemeni government program designed to protect the most vulnerable segment of the population. The project will finance cash transfers to about 1.21 million poor families through the country’s main social safety net program, the Social Welfare Fund (SWF). Read More »