March 29, 2010GCC contributions to Yemen reach USD 2.5 bln - Yemeni official
ABU DHABI, March 29 (KUNA) -- The Gulf Cooperation Council (GCC) countries' contributions to economy and good governance in Yemen amounted to USD 2.5 billion, a Yemeni official said Monday.
Most of this money were offered by GCC countries during the 2006 meeting in London, Deputy Minister of Planning and International Cooperation Hisham Sharaf Abdullah told KUNA.
The financial assistance of the GCC countries is part of a program to backing Yemen's economy and development.
Abdullah was speaking on sidelines of a meeting of the group of friends of Yemen here. The meeting is attended by representatives from 20 countries, the GCC, EU and UN.
Yemen needs more financial resources to address growing poverty and unemployment, he said.
Little resources, weak economic capabilities to attract investments, creating jobs as well as a number of security challenges have crippled Yemen's ability to achieve the development goals, he said.
Abdullah called on participants in the meeting to focus on the urgent short and medium-term challenges. He called for hiring more Yemenis in GCC markets and securing financial sustainability of the Yemeni budget.
He said the Yemeni government was negotiating with the International Monetary Fund (IMF) to carry out a bundle of reforms to improve the Yemeni economy.
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