Washington, July 29, 2011- In light of the current political and security environment in Yemen, the World Bank has suspended disbursements under the Yemen portfolio effective July 28, 2011. The decision is consistent with Bank rules which allow such a suspension on the basis of an extraordinary situation that is directly impacting the Bank’s ability to implement its program. The Yemen IDA portfolio consists of 21 operations with $882 million in commitments (of which $542 million undisbursed balances). World Bank stands ready to re-engage rapidly and effectively once the situation on the ground stabilizes and is conducive for appropriate operational support and fiduciary oversight.
Contact:
Biesan Abu-Kwaik
202-473-0913
babukwaik@worldbank.orgÂ
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