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Saudi Arabia Announces $3 Billion in Urgent Support to Yemen

Saudi Arabia Announces $3 Billion in Urgent Support to Yemen

Thursday, 7 April, 2022 - 07:00

Saudi Arabia welcomed the announcement of Yemeni President Abd Rabbo Mansour Hadi on launching the Presidential Council under the Yemeni constitution and the Gulf initiative and its executive mechanisms.

The Kingdom confirmed its full support for the Presidential Council and its supporting entities to enable it to exercise its duties in implementing effective policies and initiatives to achieve security and stability in Yemen and end the crisis, reported the Saudi Press Agency (SPA).

In this regard, Saudi Arabia announced providing urgent $3 billion support to the Yemeni economy.

The support includes $2 billion from Saudi Arabia and UAE to support the Central Bank of Yemen. The Kingdom will also grant $1 billion for petroleum products and development.

Riyadh called for an international conference to support Yemen's economy and said it would give $300 million to the United Nations aid response to Yemen's humanitarian crisis.

It aims to alleviate the suffering of the Yemeni people and improve their living and service conditions, calling for an international conference to mobilize the financial resources necessary to support the Yemeni economy and the Central Bank of Yemen and provide oil derivatives.

The Kingdom urged the Presidential Council to start negotiations with the Houthis under UN supervision to reach a final and comprehensive political solution that includes a transitional period that will move Yemen to peace and development and for the Yemeni people to enjoy security and stability.

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