Yemen Receives 2nd $250 Mln Tranche of Saudi Grant

A view of the Central Bank of Yemen in Aden, Yemen (File Photo: Reuters)
A view of the Central Bank of Yemen in Aden, Yemen (File Photo: Reuters)
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Yemen Receives 2nd $250 Mln Tranche of Saudi Grant

A view of the Central Bank of Yemen in Aden, Yemen (File Photo: Reuters)
A view of the Central Bank of Yemen in Aden, Yemen (File Photo: Reuters)

Yemen received a second $250 million installment from a Saudi grant on Sunday to support salary payments.

Under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud, the Yemeni government has received $250 million as the second installment of the grant, the Saudi Press Agency reported.

It said the support provided by the Kingdom demonstrates its dedication to promoting security, stability, and prosperity for the people of Yemen.

The support aims to bolster the Yemeni government’s budget, enhance the purchasing power of its citizens, and contribute to economic recovery in Yemen.

In August 2023, Yemen requested economic assistance from Saudi Arabia to address its budget deficit and ensure food security. In response, Saudi Arabia announced its support, amounting to $1.2 billion. “This aid will be utilized to support salaries, wages, operational expenses, and overall economic stability in Yemen,” SPA said.

The Kingdom has provided a total of approximately $11.2 billion in direct economic and developmental support from 2012 to 2023. The budget deficit support has had significant economic impacts, such as enhancing the living conditions of Yemeni citizens, bolstering the capacity of the Yemeni government, implementing economic reform programs, and empowering the Central Bank of Yemen through the activation of monetary policy tools.



Israel Declares 'New Phase' of War, Netanyahu Promises to Return Citizens of the North

FILED - 02 September 2024, Israel, Jerusalem: Prime Minister of Israel Benjamin Netanyahu speaks during a press conference. Photo: Avi Ohayon/GPO/dpa
FILED - 02 September 2024, Israel, Jerusalem: Prime Minister of Israel Benjamin Netanyahu speaks during a press conference. Photo: Avi Ohayon/GPO/dpa
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Israel Declares 'New Phase' of War, Netanyahu Promises to Return Citizens of the North

FILED - 02 September 2024, Israel, Jerusalem: Prime Minister of Israel Benjamin Netanyahu speaks during a press conference. Photo: Avi Ohayon/GPO/dpa
FILED - 02 September 2024, Israel, Jerusalem: Prime Minister of Israel Benjamin Netanyahu speaks during a press conference. Photo: Avi Ohayon/GPO/dpa

Israeli Defense Minister Yoav Gallant said Wednesday that Israel was “at the start of a new phase in the war” amid rising tension with Lebanon’s Hezbollah.

“We are at the start of a new phase in the war — it requires courage, determination and perseverance,” Gallant told Israeli troops.

He made no mention of the explosions of electronic devices in Lebanon but praised the work of Israel’s army and security agencies, saying “the results are very impressive.”

Israeli leaders have issued a series of warnings in recent weeks that they might increase operations against Hezbollah in Lebanon, saying they must put a stop to the cross-border exchanges to allow people to return to homes near the border.

Israel began moving more troops to its border with Lebanon on Wednesday as a precautionary measure, according to an official with knowledge of the movements who spoke on condition of anonymity because he was not authorized to speak to the media.

In his comments, Gallant said that after months of fighting Hamas in the Gaza Strip, “the center of gravity is shifting to the north by diverting resources and forces.”

As Prime Minister Benjamin Netanyahu huddled with top security officials at Israeli military headquarters in Tel Aviv, the country's army chief, Lt. Gen. Herzi Halevi, said plans have been drawn up for additional action against Hezbollah.

Israel will ensure that tens of thousands of residents evacuated from northern border areas will be able to go back home, Netanyahu said on Wednesday.

"I have said it before, we will return the citizens of the north to their homes in security and that's exactly what we are going to do," he said in a brief video statement, giving no further details.

Israeli sources with knowledge of the matter said the army had moved its 98th Division, which includes commando and paratrooper formations, from Gaza to the north.