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Saudi Arabia grants Yemen $1.2bn in economic aid

Saudi Arabia is giving Yemen’s internationally recognised government $1.2 billion to help the country’s struggling economy, Saudi Press Agency reported on Tuesday.

The economic support stems from the strong ties between the Kingdom and Yemen, and comes in response to a request from the Yemeni government to help it address its budget deficit, SPA said.

The aid will also be used to pay salaries and ensure food security, and comes as a confirmation of the Kingdom’s keenness to achieve security, stability, and development in Yemen.

Yemen’s Finance Minister Salem bin Breik said the Saudi aid shows the Kingdom’s keenness to achieve economic stability in the country, alleviate human suffering, and support the Yemeni government to serve its citizens in various governorates.

“The new economic support is an extension of a long series of developmental and economic support provided by the Kingdom for decades, and an important response to addressing the Yemeni government’s budget deficit,” the minister said.

Bin Breik added: “It will contribute to supporting the Yemeni government in covering salaries, wages, and operating expenses. The support will also have a significant impact on ensuring food security in Yemen, and highlights the Kingdom’s permanent support for Yemen.

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