On Monday, October 28, 2024, Ahmed Ghaleb Al-Maabqi, the Governor of the Central Bank of Yemen, presented a proposal to the World Bank focusing on key priorities for developing the monetary sector in Yemen.

This presentation took place during a meeting with Waed Bazeeb, the Minister of Planning and International Cooperation, and Osman Dioun, the World Bank Vice President for the Middle East and North Africa. The meeting aimed to discuss ways to enhance cooperation and sustainable development between Yemen and the World Bank, as reported by the official Yemeni news agency Saba.

Al-Maabqi emphasized the need to expedite the implementation of a digital payments project in collaboration with the World Bank. He underscored the significance of this initiative in modernizing Yemen's financial infrastructure.

In response, Minister Bazeeb outlined the challenges facing Yemen and the available development opportunities, proposing a comprehensive vision for restructuring existing projects funded by the International Development Association. He called for improving execution mechanisms to enhance developmental impact.

Bazeeb highlighted the importance of adopting a balanced approach between emergency response and sustainable development, with a focus on increasing investment in human capital, bolstering institutional resilience, and supporting productive economic sectors. He also stressed the need to develop and allocate independent infrastructure projects, particularly in the areas of water, transport, and energy.

The World Bank official commended the Yemeni government's efforts to support and facilitate the implementation of developmental projects, reaffirming the bank's commitment to assist Yemen in its development endeavors, especially in creating job opportunities and facilitating economic transformation.

The meeting concluded with both sides agreeing on the importance of enhancing the World Bank's presence in Yemen and increasing field missions to Aden and other provinces while confirming the government’s readiness to provide all necessary facilitation.

Both parties also reiterated the importance of continuing close cooperation to achieve shared developmental goals and promote sustainable and inclusive development in Yemen.