Riyadh: The Kingdom of Saudi Arabia (KSA) on Tuesday, August 1, announced the provision of economic support worth 1.2 billion dollars to Yemen, the Saudi Press Agency (SPA) reported.
This support came under the directives of the Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman.
The economic support was provided in response to the request by the Yemeni government for help to address its budget deficit.
It will help boost the country’s ailing economy, pay salaries and improve food security, and reflect the Kingdom’s desire to help achieve security, stability and development in Yemen.
This is not the first time that Saudi Arabia has provided aid to Yemen. The Kingdom had previously deposited funds in the Central Bank of Yemen, with a total value of 4 billion dollars between 2012 and 2022 to help improve the daily lives of the people of Yemen
Yemen’s civil war, now entering its ninth year, has devastated the country’s economy, driven up food prices, and pushed half the population to the brink of starvation.
Fighting has largely stopped with the Iran-backed Houthis in northern Yemen over the past year, but the internationally recognized government, based in Aden, has faced a weak currency and soaring prices.
