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Saudi Arabia Sponsors Comprehensive Economic Reform in Yemen with $ 1Bln

The AMF, under the sponsorship of Saudi Arabia, signed a $1 billion agreement with the Yemeni government to revitalize its economy. (Saba News Agency)
The AMF, under the sponsorship of Saudi Arabia, signed a $1 billion agreement with the Yemeni government to revitalize its economy. (Saba News Agency)
    Riyadh –Omar al-Badwi – Aden – Mohammed Nasser
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Saudi Arabia Sponsors Comprehensive Economic Reform in Yemen with $ 1Bln

The AMF, under the sponsorship of Saudi Arabia, signed a $1 billion agreement with the Yemeni government to revitalize its economy. (Saba News Agency)
The AMF, under the sponsorship of Saudi Arabia, signed a $1 billion agreement with the Yemeni government to revitalize its economy. (Saba News Agency)

Sponsored by Saudi Arabia, the Arab Monetary Fund (AMF) signed a $1 billion agreement to support Yemen's economic reform program. The new package will help rebuild institutions and strengthen governance and transparency.

Together with the signing of the agreement, the Yemeni rial’s exchange rate in the interim capital, Aden, and other liberated areas witnessed remarkable improvement against foreign currencies, money exchangers told Asharq Al-Awsat.

The agreement was signed in the presence of Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan and Saudi Ambassador to Yemen, Mohammed Al Jaber, who is also the Supervisor General of Saudi Development and Reconstruction Program of Yemen (SDRPY).

The Yemeni finance minister, the central bank governor and the AMF chairman signed the agreement in the headquarters of the Saudi finance ministry in Riyadh.

The program is set to provide support for the Yemeni government's efforts to stabilize the economy from 2022 to 2025.

It aims to establish the foundations of economic, financial, and monetary stability in Yemen.

AMF Director General Chairman of the Board Abdulrahman Al Hamidy valued Saudi Arabia’s support to achieve economic, monetary, and financial stability in the countries of the region and abroad.

Al Hamidy noted that Saudi Arabia’s active membership in the G20 has strengthened the Kingdom’s international role, making it the largest supporter of Arab and regional financial institutions.

According to Al Hamidy, the program also focuses on a package of reforms aimed at strengthening the financial position of the Yemeni government, developing the financial and banking sector, creating an enabling environment to enhance the role of the private sector, and involving it in the process of sustainable economic development.

Salem Saleh Bin Braik, the Yemeni finance minister, reaffirmed that Saudi Arabia’s support for Yemen is longstanding.

Braik pointed out that Saudi Arabia’s support comes at a time when Yemen and its people are in dire need, especially considering the Houthi terrorist group’s insistence on inflicting more hardships on Yemenis.

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Saudi Arabia Urges Yemen’s STC to 'Urgently’ Withdraw from Hadhramaut and al-Mahra

Saudi Arabia Urges Yemen’s STC to 'Urgently’ Withdraw from Hadhramaut and al-Mahra
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Saudi Arabia Urges Yemen’s STC to 'Urgently’ Withdraw from Hadhramaut and al-Mahra

Saudi Arabia Urges Yemen’s STC to 'Urgently’ Withdraw from Hadhramaut and al-Mahra

The Saudi Ministry of Foreign Affairs issued a statement on Thursday expressing concern over the recent military movements witnessed in the governorates of Hadhramaut and al-Mahra.

It noted that “the actions carried out by the Southern Transitional Council were taken unilaterally, without the approval of the Presidential Leadership Council or coordination with the coalition leadership”.

The Kingdom described the moves as an “unjustified escalation” that has harmed the interests of the Yemeni people across all segments of society, undermined the Southern cause, and weakened the coalition’s efforts.

The Kingdom further emphasized that, in recent months, it has focused on maintaining unity and has undertaken intensive efforts to reach peaceful solutions to address the situation in the two governorates, as part of its ongoing endeavors to restore stability.

The statement added that these efforts were “coordinated with the brethren United Arab Emirates, the Chairman of the Presidential Leadership Council, and the Yemeni government to contain the situation”.

It said that a “joint Saudi–Emirati military team was dispatched to coordinate with the Southern Transitional Council in Aden, ensuring the withdrawal of its forces from the two governorates and the handover of camps to the National Shield Forces and local authorities under the coalition’s supervision”.

The Foreign Ministry stressed that efforts are still underway to restore the situation to its previous state, expressing the Kingdom’s hope that the public interest will prevail and that the Southern Transitional Council will take the initiative to de-escalate tensions and urgently and peacefully withdraw its forces from the two governorates.

Saudi Arabia also underscored the importance of cooperation among all Yemeni forces and components, exercising restraint, and avoiding actions that could undermine security and stability.

The Kingdom reiterated its position that the “Southern cause is a just issue with historical and social dimensions and can only be resolved through dialogue that brings all Yemeni parties together at one table, within a comprehensive political process that ensures a lasting solution in Yemen”.

The statement concluded by affirming the Kingdom’s “support for the Chairman and members of the Presidential Leadership Council and the Yemeni government, in a manner that achieves security, stability, development, and peace in the sisterly Republic of Yemen”.

Gulf

MWL Condemns Attack Targeting Pakistani Police

The Muslim World League (MWL) logo
The Muslim World League (MWL) logo
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MWL Condemns Attack Targeting Pakistani Police

The Muslim World League (MWL) logo
The Muslim World League (MWL) logo

The Muslim World League (MWL) strongly condemned the attack targeting police personnel in Pakistan’s Khyber Pakhtunkhwa Province, the Saudi Press Agency reported on Thursday.

In a statement issued by its General Secretariat, MWL Secretary-General and Chairman of the Organization of Muslim Scholars, Sheikh Mohammed Al-Issa, affirmed the League’s solidarity with the Islamic Republic of Pakistan in the face of all threats to its security and stability. He reiterated the MWL’s firm rejection and condemnation of violence and terrorism in all their forms and under any pretext.

He also extended his sincere condolences and sympathies to the families of the victims and to the Pakistani people.

Gulf

Sultan of Oman Awards Military Order to Royal Saudi Air Force Commander

Commander of the Royal Saudi Air Force (RSAF) Lieutenant General Prince Turki bin Bandar bin Abdulaziz receives the Military Order of Oman (Second Class). (SPA)
Commander of the Royal Saudi Air Force (RSAF) Lieutenant General Prince Turki bin Bandar bin Abdulaziz receives the Military Order of Oman (Second Class). (SPA)
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Sultan of Oman Awards Military Order to Royal Saudi Air Force Commander

Commander of the Royal Saudi Air Force (RSAF) Lieutenant General Prince Turki bin Bandar bin Abdulaziz receives the Military Order of Oman (Second Class). (SPA)
Commander of the Royal Saudi Air Force (RSAF) Lieutenant General Prince Turki bin Bandar bin Abdulaziz receives the Military Order of Oman (Second Class). (SPA)

Oman’s Sultan Haitham bin Tarik awarded on Wednesday the Military Order of Oman (Second Class) to Commander of the Royal Saudi Air Force (RSAF) Lieutenant General Prince Turki bin Bandar bin Abdulaziz in recognition of his efforts and contributions to strengthening military cooperation between the two countries.

The order was presented to the RSAF commander by Omani Deputy Prime Minister for Defense Affairs Shihab bin Tarik Al Said, in the presence of Commander of the Royal Air Force of Oman (RAFO) Air Vice Marshal Khamis Al Ghafri, Saudi Ambassador to Oman Ibrahim bin Saad bin Bishan, and the accompanying delegation.

During the visit, the RSAF commander also met with Minister of the Royal Office of Oman General Sultan bin Mohammed Al Nomani for talks on issues of mutual interest.

Prince Turki bin Bandar bin Abdulaziz arrived in Oman on Tuesday on an official visit during which he met with the commander of RAFO. The discussions addressed issues of common interest, particularly in the field of joint training and exercises.

The visit included a tour of the Air Center for Specialized Training, where the delegation reviewed the advanced capabilities on display, reflecting the level of development achieved by the Royal Air Force of Oman.