Sereen Juma (202) 458-7199
Fax: (202) 522-0003
WASHINGTON, November 1, 2001--The International Development Association's (IDA) Board of Directors today approved a US$45.2 million credit to the Republic of Yemen for the Taiz Municipal Development and Flood Protection Project. The project aims to assist in strengthening the local government of the City of Taiz, thereby supporting Yemen's decentralization program, and to protect the city's residents, businesses and infrastructure from seasonal destruction of flash floods.
The project is made up of three major components:
a) the building of flood control structures in Taiz which entail large culverts that will channel flash floods safely through the urban area;
b) funding to ensure the resettlement of about 245 families who are now living on the banks of a major wadi where the project will build flood structures; and
a) capacity building for local government councils that involves technical assistance and the provision of training, equipment, and infrastructure.
This project is expected to benefit local government institutions nationwide and the residents of the City of Taiz.
The overall project cost is US$50 million. The World Bank loan of US$45.2 million will be disbursed on standard IDA terms with a 10-year grace period and a maturity of 40 years. The Government of Yemen will contribute US$4.8 million.