US signs 5-year aid agreement with Yemen to accelerate financial development

4/23/2024 9:45:03 AM

(MENAFN) On Sunday, the United States finalized a five-year aid agreement with Yemen's government aimed at accelerating financial development in a country facing one of the direst humanitarian crises globally.

The pact was signed by Yemen's Minister of Planning and International Cooperation, Waed Abdullah Batheeb, and Kimberlee Bell, the Country Director for Yemen at the United States Agency for International Development (USAID).

“The agreement reflects the unwavering commitment of the United States to Yemen’s prosperity, stability, and people,” the US Embassy in Yemen stated in a declaration.

“The agreement outlines how USAID’s development assistance will accelerate Yemen’s economic growth, improve access to essential water, health, and education services, and strengthen governance and reconciliation,” it further mentioned.

As per the statement, USAID has extended over USD5.8 billion in humanitarian and development aid to Yemen since 2015.

Yemen has been engulfed in turmoil and disorder since 2014, following the takeover of significant parts of the country, including the capital, Sanaa, by Houthi rebels backed by Iran. The situation escalated in 2015 with the initiation of a devastating air campaign by a Saudi-led military coalition, aimed at retaking territory seized by the Houthis.

Since the conflict began, it is estimated that tens of thousands of Yemenis have lost their lives. Additionally, according to the United Nations, a staggering 14 million Yemenis are currently facing the threat of starvation due to the humanitarian crisis exacerbated by the ongoing conflict.

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