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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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Gulf

Trump Administration Backs Saudi Arabia’s Right to Defend Itself against Houthis

US Secretary of State Marco Rubio speaks to the press before boarding a plane en route to Iceland at Joint Base Andrews, Maryland, on October 5, 2026. (AFP)
US Secretary of State Marco Rubio speaks to the press before boarding a plane en route to Iceland at Joint Base Andrews, Maryland, on October 5, 2026. (AFP)
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Trump Administration Backs Saudi Arabia’s Right to Defend Itself against Houthis

US Secretary of State Marco Rubio speaks to the press before boarding a plane en route to Iceland at Joint Base Andrews, Maryland, on October 5, 2026. (AFP)
US Secretary of State Marco Rubio speaks to the press before boarding a plane en route to Iceland at Joint Base Andrews, Maryland, on October 5, 2026. (AFP)

US Secretary of State Marco Rubio stressed on Monday that Washington understands the steps taken by the Saudi-led Arab coalition against the terrorist Houthi militia in Yemen.

The Trump administration is determined to meet its bilateral security commitments with the Kingdom in confronting threats from the Iran-backed group.

“The United States has a defense and security agreement with Saudi Arabia and we intend to live by it. I won’t discuss details further than that,” Rubio told a press conference before departing on a European trip that includes Iceland, Greece and Portugal.

“As far as our view of it, well, I think it’s – the Saudis and Yemeni forces clearly are not in favor of the Houthis controlling that territory close to the – to the [Bab al-Mandeb] strait there,” he added.

“It is territory that was gained as a result of a Houthi offensive, and this is the counter to it. We expected that would happen and that’s what’s happening,” he remarked.

“So obviously the Saudis have come under Houthi attack and see the threat that that poses, and they have a right to defend themselves. And obviously the Yemeni forces are going to try to retake territory that they were ousted from,” Rubio added.

Gulf

Under Royal Directives, Saudi Arabia to Regularize Residency Status of Yemeni Nationals

The Ministry of Interior said that holding a valid Yemeni passport is an essential prerequisite for regularizing legal status. (Saudi Development and Reconstruction Program for Yemen)
The Ministry of Interior said that holding a valid Yemeni passport is an essential prerequisite for regularizing legal status. (Saudi Development and Reconstruction Program for Yemen)
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Under Royal Directives, Saudi Arabia to Regularize Residency Status of Yemeni Nationals

The Ministry of Interior said that holding a valid Yemeni passport is an essential prerequisite for regularizing legal status. (Saudi Development and Reconstruction Program for Yemen)
The Ministry of Interior said that holding a valid Yemeni passport is an essential prerequisite for regularizing legal status. (Saudi Development and Reconstruction Program for Yemen)

Under the directives of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and in response to a request submitted by Chairman of the Yemeni Presidential Leadership Council Dr. Rashad Mohammed Al-Alimi, the Saudi Ministry of Interior announced on Monday that the status of all Yemeni nationals residing irregularly in the Kingdom will be officially regularized.

The ministry is carrying out the initiative with the Ministry of Foreign Affairs, Ministry of Human Resources and Social Development, and Saudi Data and AI Authority, as part of the Kingdom's continued fraternal and humanitarian support for the Yemeni people.

The Ministry of Interior said that holding a valid Yemeni passport is an essential prerequisite for regularizing legal status.

The start date and applicable regulations will be announced through the official accounts of the General Directorate of Passports and other relevant authorities.

Gulf

Saudi Arabia Strongly Condemns Houthis' Continued Targeting of Civilian Facilities

Saudi Arabia Strongly Condemns Houthis' Continued Targeting of Civilian Facilities
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Saudi Arabia Strongly Condemns Houthis' Continued Targeting of Civilian Facilities

Saudi Arabia Strongly Condemns Houthis' Continued Targeting of Civilian Facilities

Saudi Arabia strongly condemned on Monday the terrorist Houthi militia’s continued targeting of civilians and civilian and economic facilities in the Kingdom.

A Ministry of Foreign Affairs statement said Saudi Arabia also condemned “the Houthis’ blatant and repeated attacks against the holiest sites on earth - Makkah and Madinah - the capital Riyadh, and the cities of Abha, Khamis Mushait, Jazan, Najran, Taif, and Yanbu, as well as its targeting of Saudi vessels in the southern Red Sea and the Bab al-Mandeb Strait.”

The Kingdom stressed that, since the terrorist Houthi militia’s coup against Yemen’s legitimate government in 2014, Saudi Arabia “has made sustained and tireless efforts to support a comprehensive and lasting political solution in Yemen.”

“However, consistent with its rejection of peace, the terrorist Houthi militia has instead chosen continued military escalation, dragging Yemen and the brotherly Yemeni people into further humanitarian and economic suffering that serves - and is in pursuit of - external agendas,” it added.

“The Kingdom reaffirms its inherent right to defend its territory, resources, sovereignty, and the safety of its citizens and residents, and to take all necessary measures to protect its security in accordance with international law,” it continued.

“It also renews its full political and military support for the Presidential Leadership Council, the Yemeni government, and the brotherly Yemeni people to end the coup and restore the state and its institutions from the control of the terrorist Houthi militia,” it went on to say.

“The Kingdom reiterates its call on the international community, particularly the permanent members of the UN Security Council, to fulfill its responsibilities, implement the relevant Security Council resolutions, and provide full support to Yemen’s legitimate government in confronting the terrorist Houthi militia and ending the threat it poses to Yemen, the region, and the world,” it urged.