The three coal-fired plants will be built in Aden, Al-Hudaida and Mukalla. Tenders for the new projects are expected in September and will be controlled by IFC.
IFC engages in activities, such as, financing private sector investment, mobilising private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments in developing countries.
Earlier in February, IFC has signed a memorandum of understanding with the Republic of Yemen’s Ministry of Planning and International Cooperation to provide advice and help implement public-private partnership projects in priority sectors, including power and transport.
Michael Essex, director of the Middle East and North Africa at IFC, said: “Yemen’s commitment to establishing a public-private partnership program is an important step toward improving the country’s infrastructure. IFC has global experience and expertise in providing advisory services in sustainable public-private partnership projects, and we are pleased to help the government implement and pioneer such transactions.”
