Saudi Arabia has provided Yemen’s internationally recognized government with a new grant worth more than 224 million riyals ($60 million) to support its budget, the Kingdom’s ambassador to Yemen Mohammed al-Jaber said on Thursday.
– Al-Jaber said the funding, provided through the Saudi Development and Reconstruction Program for Yemen (SDRPY), came at the request of the Yemeni government and under directives from the Saudi leadership.
– The grant is intended to help ensure regular government financial flows, improve the effectiveness of fiscal policy and bolster the purchasing power of Yemeni citizens, he said.
– Al-Jaber said the latest assistance comes amid attacks by the Iran-backed Houthi militia on “the resources, property and interests of the brotherly Yemeni people.”
– Saudi Arabia has provided successive rounds of economic and development assistance to Yemen as its government grapples with the economic fallout of years of conflict and pressure on public finances.
– In February, Riyadh announced 1.3 billion riyals in economic support for Yemen aimed at bolstering the government budget, covering operating expenses and helping pay public-sector salaries.
– Saudi Arabia has also continued to fund development and humanitarian projects across Yemen. The SDRPY has delivered more than 260 projects and initiatives spanning sectors including education, healthcare, energy, water, transport and agriculture.