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Planning Minister participates in Roundtable Meeting for Islamic Bani in Riyadh

[01/05/2024 02:22]

RIYADH - SABA
Minister of Planning and International Cooperation Dr. Waed Batheeb participated Wednesday in the Roundtable Meeting of Board of Trustees of the Islamic Development Bank in Saudi Arabia.

In Yemen's speech he delivered in the meeting, Batheeb pointed out to importance of the bank's support to development in member countries and funding their needs of projects within a strategic vision meeting improvements and development witnessed in regional and international arenas in field of development and economy.

Minister Batheeb talked about importance of establishing facilitating window to less-developed countries in the bank as resources size increases in this window to member countries, including Yemen, pointing out that this window is an urgent need and a priority to get more funding to address needs and fill the shortage gap of resources.

He reviewed challenges facing Yemen, including shrinking of economic growth, which decreased to 50 percent of gross domestic product over Houthi terrorist militia's coup against the state and destroying infrastructure of vital sectors and deterioration of public resources of taxes, customs and stop of producing and exporting oil and gas.

He pointed out to importance of increasing funding to sectors window to meet needs of member countries instead of defining limited sectors for many reasons, led by differences of developmental plans and differences of internal crises and challenges.

He highlighted importance of making use of multi-party banks like World Bank, Asian Development Bank and the African Bank in renewing resources of the bank, taking into consideration conditions of less-developed countries in the Islamic Bank.