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The European Union launches a project to support Yemen's economy

English - Tuesday 01 February 2022 الساعة 07:03 pm

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Aden, NewsYemen:

On Monday, the European Union announced the launch of a project to support Yemen's economy, which has been suffering from a severe crisis for months, coinciding with the deterioration of the local currency's price against foreign currencies.

This came according to a statement issued by the European Union Mission to Yemen, which was published on its website.

The statement said: "The European Union, the Organization for Economic Cooperation and Development (OECD) and representatives of the Yemeni government met to launch an initiative to implement strengthening economic resilience in Yemen."

According to the statement, Marion Lallis, Chargé d'Affairs of the European Union Mission to Yemen, said that the project will contribute to rehabilitating the economic fabric, maintaining the flexibility of economic actors and increasing the purchasing power of individuals throughout Yemen.

The statement added: "The project also aims to improve the capabilities of the central economic institutions in Yemen, support dialogue between the public and private sectors, and build managerial skills for private sector institutions."

The statement did not mention the value of the project.