Jeddah, Saudi Arabia – The Saudi Program for the Development and Reconstruction of Yemen (SPDRY), the Islamic Development Bank Group (IsDB), and the Yemeni government inked a tripartite joint cooperation agreement to launch an economic empowerment program in Yemen.
The program with a budget of two million dollars in the first phase falls within the framework of the executive program for development cooperation between the IsDB and the SPDRY, signed on May 20, 2021, in Jeddah.
The agreement aims to establish a general framework for activating development cooperation in Yemen, tackling challenges related to agricultural production chains, and improving access to markets by addressing current gaps in the trade and production sectors.
The program also supports the promotion of sustainable livelihoods in Yemen, job creation, income improvement and strengthening of Yemeni markets.
The program’s three main pillars include financing e-commerce solutions, providing consultations to develop value chains and technical skills for small and micro enterprises to increase their capabilities and improve resource access to markets, and boosting the quality of agricultural products and enhancing their access to markets.
The SPDRY supports the economic empowerment of youth of both genders, fostering an environment that supports small and medium-sized enterprises, and bolstering local chains through training, education, and the development of skills and capacities. It has provided 224 development projects and initiatives in different Yemeni governorates to assist the Yemeni people in various sectors.
