(MENAFN- Saudi Press Agency) Stockholm, June 18, 2022, SPA – Saudi Development and Reconstruction Program for Yemen (SDRPY) is participating in the Yemen International Forum 2022, in Stockholm, organized by the Sana'a Center for Strategic Studies in cooperation with the Folke Bernadotte Academy, to boost the development and economic paths, and to contribute to enhancing the forum's sessions and workshops with its experiences and its visions on development and economic recovery.
During its participation, SDRPY is reviewing at Forum the program's experiences, strategy, and methodology in implementing development projects and initiatives and strengthening strategic partnerships, as well as its development experiences in creating a new business model to ensure focus on projects with direct impact, while placing the principle of sustainability at the heart of these plans and programs, and translating this into several measures that contribute to strengthening institutions and building their capacities for resilience, recovery, and sustainability.
The head of the SDRPY delegation, Dr. Adel Al-Qassadi, during his participation in the main panel discussion on (Economic Recovery: Shifting from Reliance on Humanitarian Relief to Development Support), said“We need to link between the humanitarian and the development tracks in Yemen, and there is a need for a complete vision of economic recovery that does not depend on what is provided by donors”.
The three-day forum, which runs from 17-19 June 2022, will discuss major issues in Yemen related to the political situation, peace endeavors, and the economic file.
Saudi Arabia, under the leadership and directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, and Minister of Defense is keen to support and stand by Yemen to raise the living standard and the economy.
Since 2015, the Kingdom's support to Yemen amounted to more than $19 billion in humanitarian, relief, development, and economic aid, with the total Saudi direct economic and development support to Yemen amounting to $9.8 billion from 2012 to 2022, in the form of direct deposits of economic and development support to the Central Bank, the Social Development Fund and oil derivatives.
The Kingdom's most recent support to Yemen was the provision of urgent support to the Yemeni economy in April 2022, amounting to $3 billion, of which $2 billion were equally provided by the Kingdom and the United Arab Emirates, in support of the Central Bank of Yemen, in addition to the provision of $1 billion from the Kingdom, including $600 million for the Fund to support the purchase of oil derivatives, and $400 million for development projects and initiatives, which contributed to curbing the collapse of the Yemeni currency and the depreciation of the Yemeni riyal exchange rate against the dollar by about 36% compared to the exchange rate at the beginning of the Yemeni-Yemeni dialogue.
Moreover, the Kingdom has provided direct development support through its development projects and initiatives that have been implemented by SDRPY since 2018, in coordination with the Yemeni government and in cooperation with international, regional, and international organizations and civil society organizations who are active in the development in Yemen, where SDRPY has implemented so far a total of 207 projects and development initiatives in various Yemeni governorates in seven vital sectors, including education, health, water, energy, transportation, agriculture and fisheries, capacity building of government institutions, in addition to development programs worth $829,073,978 up to 2021, with a total number of beneficiaries amounting to 14.6 million in 14 Yemeni governorates.
SDRPY also supervised the $422 million worth of Saudi oil derivatives grant presented in 2021, which was delivered to various Yemeni governorates and contributed to improving services in vital sectors, improving the lives of Yemeni citizens, raising the capabilities of Yemeni institutions working in the field of electricity, and reducing power blackouts and contributed to alleviating the burden on the Budget of the Yemeni government.
--SPA
22:09 LOCAL TIME 19:09 GMT
0020
MENAFN18062022000078011016ID1104395768
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.