Saudi Arabia Allocates 500 Million USD To Support Yemeni Government

2024-12-27 08:09:15

(MENAFN- Nam News Network) ADEN, Dec 28 (NNN-SPA) – Saudi Arabia allocated 500 million U.S. dollars to the Yemeni government, to cover state employees' salaries and other expenses, Yemeni Prime Minister, Ahmed Awad bin Mubarak, said yesterday.

In a post on social media platform X, Mubarak expressed“profound gratitude and appreciation” to Saudi Arabia, for its“continuous and generous support.”

“The launch of the fourth batch of support, amounting to 200 million dollars for the general budget, alongside a 300-million-dollar deposit for the Central Bank of Yemen, demonstrates the kingdom's steadfast solidarity with the Yemeni people,” Mubarak added.

The Yemeni prime minister emphasised that, the aid will allow the government to pay state employees' salaries, enhance citizens' living conditions, and help stabilise the significantly depreciated Yemeni currency, ultimately contributing to overall market and economic stability.

The funding is part of a 1.2-billion-dollar support package, pledged by Saudi Arabia last year, to bolster Yemen's struggling economy. Previous disbursements from the package valued at 250 million dollars were made in Feb and Aug, last year.– NNN-SPA

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