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‘Isnad’ Urges Aid Agencies to Deposit Funds in Yemen’s Central Bank

‘Isnad’ Urges Aid Agencies to Deposit Funds in Yemen’s Central Bank

Monday, 8 October, 2018 - 10:45
Isnad urges aid agencies to deposit funds in Yemen's Central Bank. (AFP)
Riyadh - Asharq Al-Awsat

The Center of Yemen's Comprehensive Humanitarian Operations (YCHO), Isnad, urged UN organizations to deposit their funds in the Central Bank of Yemen instead of depositing them in Yemeni commercial banks abroad.

It said that these banks do not transfer the funds to Yemen, which has contributed to the decline of the Yemeni rial.

The Center also welcomed the coordination between UN organizations and the legitimate government in this regard.

It read the October 5 statement by the United Nations Office for the Coordination of Humanitarian Affairs’ (OCHA) in Yemen on the rescue of the rial.

Saudi Ambassador to Yemen and Isnad CEO Mohammed Al Jaber, who also heads the Saudi Development and Reconstruction Program for Yemen, explained that the Kingdom presented in 2018 a number of initiatives and measures in support of the economic and humanitarian situation in Yemen.

The YCHO’s plan for 2018 includes depositing two billion dollars from the Kingdom to the Central Bank of Yemen, in addition to one billion dollars that have been previously deposited, he added.

Saudi Arabia has also recently transferred $200 million to the Central Bank, Al Jaber remarked.

The Kingdom also provided $1.18 billion, with the United Arab Emirates and Kuwait, to support the UN’s 2018 Yemen Humanitarian Response Plan (YHRP), as well as other international support for UN organizations.

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