The Saudi Ministry of Foreign Affairs announced Saturday evening that the Kingdom intends to provide additional support for the development and reconstruction of Yemen, in light of declining international aid and the escalating financial crisis that has caused the local currency to decline.
The ministry said in a statement, "The Kingdom announces the provision of new economic development support to Yemen in the amount of 1 billion, 380 million, and 250 thousand riyals ($368 million), through the Saudi Program for the Development and Reconstruction of Yemen."
She pointed out that "this support comes under the direction of King Salman bin Abdulaziz, and based on what Crown Prince Mohammed bin Salman submitted regarding providing additional support to the brotherly Yemeni people in light of the difficult economic conditions facing Yemen."
She continued, "This support also comes in response to the appeal of Rashad Al-Alimi, Chairman of the Yemeni Presidential Leadership Council, and as a confirmation of Saudi Arabia's continued support for the Council and the Yemeni government."
This financial contribution included "support for the government budget and petroleum derivatives, in addition to supporting the operating budget of Prince Mohammed bin Salman Hospital in Aden Governorate (south), in accordance with governance that supports the Yemeni government's efforts to implement economic reforms," according to the statement.
Five people, including three children, were killed in an Israeli airstrike on the southern Lebanese city of Bint Jbeil.
Five people, including three children, were killed in an Israeli airstrike on the southern Lebanese city of Bint Jbeil.
Yemen is experiencing its worst financial crisis this year, with the local currency and international aid declining significantly. This has negatively impacted the lives of many, amid repeated UN warnings of widespread famine.
The Yemeni government has previously confirmed that it is suffering from a severe financial crisis due to the continued halt in oil exports since October 2022, following Houthi attacks targeting oil ports. The group is demanding an agreement on sharing oil revenues and using them to pay employee salaries across the country.
Since April 2022, Yemen has witnessed a de-escalation in a war that began more than 10 years ago between forces loyal to the legitimate government and the Houthi group, which has controlled governorates and cities, including Sana'a, since 2014.
