Almotamar.net - The World Bank (WB) and Yemen’s Ministry of Planning and International Cooperation on Tuesday signed an agreement of the grant offered by the WB amounted to $923.742
to finance implementation of the activities preparing for the project of modernization of finance.

The agreement as signed for the WB side by Director of the WB in Sana’a and for the Yemeni government side by Deputy Premier, the Minister of Planning and International Cooperation Abdulkarim al-Arhabi.

The finance modernization project, with total cost of $16.5 million under the WB and the Yemeni government funding, aims at supporting and enhancing capabilities and performance of the Finance Ministry by developing and improving systems and administration apparatuses and qualification of the cadres working in it.

The project, which is expected to be implemented in June 2010, also aims improve the mechanism of managing the public budget and enhancement of the mechanisms of control and accountability and the decision-making.