Yemen’s government has praised Saudi Arabia for providing “generous support” with a $1.2-billion aid package aimed at bolstering the Yemeni economy.
The aid is aimed at fortifying the general budget, implementing economic and financial reforms, enhancing service conditions, ensuring food security, and alleviating the citizens’ hardships, reported the state-run Saba news agency in Yemen on Tuesday.
During the signing ceremony held in the Saudi capital of Riyadh, Yemeni Finance Minister Salem bin Buraik said the “generous support” would help strengthen Yemen’s financial and monetary aspects, and reinforce the state’s capacity to address extraordinary challenges, Xinhua news agency reported.
Saudi Arabia had previously provided deposits totaling $4 billion in the Central Bank of Yemen between 2012 and 2022.
The Yemeni civil war started in late 2014 when the Houthi militia stormed several northern cities and forced the Yemeni government out of the capital Sanaa. The bloody conflict has led to a sharp decline in the living condition of many Yemenis, resulting in one of the worst humanitarian crises globally.
