The International Finance Corporation has confirmed its commitment to contribution to boosting Yemen's economy, saying it had already pledged and started the release, since June this year, of $ 189 million for education, healthcare and extractive industries.

The sum paid on investments in the previously mentioned areas comes within the IFC's strategy for encouraging the private sector to launch investments in the country, it said in a statement on the margins of a conference on the opportunities of reaching fund resources through housing and secured loan finance held in Sana'a.

The WB's subsidiary also pointed out that it has been working along with the Yemeni government to pass rental finance legislation as well as raising the awareness among the Yemeni banks about the risk management.

Moreover, the UK Development Ministry had contributed to a three-year program to finance various development projects in Yemen through the IFC and the WB's FIAS Program of consultancy for foreign investment in Yemen, it added.

The program has been prepared by the World Bank in association with the Yemeni government and private sector and was aimed at facing roadblocks to the private sector.

 

According to the statement, the IFC has been training Yemeni banks and financial institutions in how to improve their abilities to provide services for individuals and small and medium enterprises.