Yemenis welcomed the announcement that aid from Saudi Arabia and the United Arab Emirates will be accelerated to the war-torn country.
The aid, worth around 3.3 billion dollars, will improve services, most notably electricity, water and transportation, and boost the economy and local currency.
Chairman of the Yemeni Presidential Leadership Council Dr. Rashad Al-Alimi had held talks in Riyadh on Thursday with Saudi Deputy Defense Minister Prince Khalid bin Salman, who announced a new package of projects in Yemen, worth 600 million dollars.
They also agreed to accelerate the delivery of funding from Saudi Arabia and the UAE.
The Saudi Development and Reconstruction Program for Yemen will implement 17 projects, worth $400 million, that cover six sectors, including energy, transportation, education, water, health, and building state institutions.
It will provide $200 million to provide oil derivatives to operate power stations to meet the needs of the Yemeni people and ease their suffering.
Yemenis in the interim capital Aden and liberated regions are hoping that the announcement will lead to tangible change in the coming weeks, especially in providing fuel and improving electricity.
The new push from Saudi Arabia and the UAE includes implementing 17 urgent projects in Aden, Taiz and Hadramawt. The Yemeni government and Central Bank in Aden will meanwhile, focus on receiving the Saudi-Emirati deposit, worth 2 billion dollars.
The latest aid announcement boosted the rial, which traded at 1,050 to the dollar. The rate is expected to improve even further.
Yemeni economic researcher Abdulhamid al-Masajidi told Asharq Al-Awsat that the development package announced by Saudi Arabia will have a positive impact on the local economy and public services, most notably water and electricity.
“The package will help the government provide the necessary political and security environment to carry out the desired reforms from the Arab Monetary Fund,” he added.
The funds will be used to provide fuel and build a gas power plant to meet the rising local demand, he revealed.
