The World Bank’s International Finance Corporation (IFC) is advising Sanaa on ways to encourage private investment in Yemen, and is in talks with parties interested in investing the in country’s power sector.
“Yemen is one of our focus countries,” says Gulrez Hoda, associate director of the IFC in the Middle East and North Africa. “We are trying to work with the government to open up the financial and infrastructure sectors. We have signed an agreement with the government of Yemen to help them develop a series of public-private partnership projects. Hopefully the first one will be in the power sector.”
Details of the project have not been finalised, but a number of private groups have expressed interest.
“There is a general interest in investing in the power sector from a number of investors,” says Hoda. “Once the transaction advisory process moves forward we will draft a shortlist of bidders.”