Saudi Arabia grants $1.2 bln to Yemen for economic support
Last updated on: 02 August,2023 12:16 pm
The aid aims to bolster the country’s economy, alleviate human suffering, and ensure food security
RIYADH (APP) - In a significant display of its commitment, Saudi Arabia on Tuesday pledged $1.2 billion in economic support to the struggling Yemeni government.
The aid, which comes in response to Yemen’s request to address its budget deficit, aims to bolster the country’s economy, alleviate human suffering, and ensure food security.
The generous financial assistance is a testament to the strong ties between the two nations and the Kingdom’s keenness to promote security, stability, and development in Yemen.
Yemen’s Finance Minister, Salem bin Breik, expressed his gratitude for the substantial aid, emphasizing that it would go a long way in achieving economic stability in the country and supporting the government’s efforts to cater to the needs of its citizens across various governorates.
He highlighted that the Saudi support was part of a long-standing tradition of developmental and economic aid provided by the Kingdom for decades.
The funding is intended to cover essential expenses, including salaries and wages, while also addressing the crucial issue of food security in Yemen. This move showcases Saudi Arabia’s unwavering commitment to aiding Yemen in challenging times.
Dr. Rashad Muhammad Al-Alimi, the chairman of the Presidential Leadership Council of Yemen, commended the Kingdom’s commitment to supporting Yemen’s constitutional legitimacy.
He praised Saudi Arabia’s efforts in easing human suffering, reconstructing state institutions, and working towards establishing lasting peace, stability, and development in Yemen.
This financial support from Saudi Arabia marked a significant step in the ongoing efforts to alleviate the economic hardships faced by the Yemeni people and to foster a brighter future for the nation.