A testament to Saudi Arabia’s long-term vision for fostering sustainable development and stability in Yemen
This initiative highlights Saudi Arabia’s commitment to
addressing Yemen’s economic challenges and improving the quality of life for
its citizens.
The package includes a US$300 million deposit to the Central
Bank of Yemen, designed to enhance financial and monetary stability, and an
additional US$200 million to address the country’s US$1.2 billion budget
deficit.
The funds will be allocated through the Saudi Development
and Reconstruction Program for Yemen (SDRPY) and will prioritize food security,
salary support, operational expenses, and implementing economic reforms to
build a stronger financial foundation for Yemen.
Saudi Arabia's efforts aim to stabilize the Yemeni economy
and bolster public financial management, while fostering governance and
transparency in government institutions.
The aid package is expected to empower Yemen’s private
sector to drive sustainable economic growth, create job opportunities, and
steer the national economy toward a more sustainable trajectory.
Previous Saudi assistance has yielded significant
improvements in Yemen’s economic landscape. Deposits in the Central Bank of
Yemen have bolstered foreign reserves, stabilized the local currency, and
lowered exchange rate volatility.
This stability has reduced the prices of essential goods,
including wheat, rice, milk, cooking oil, and sugar, while easing the costs of
fuel and diesel. These measures have not only addressed immediate economic
concerns but have also enhanced Yemen's food security and overall quality of
life.
Saudi aid has also contributed to key sectors such as
healthcare, by covering medication for chronic illnesses and cancer treatments,
and education, among others.
Support for electricity generation has been another vital component, with Saudi
Arabia supplying oil derivatives to 80 power plants across Yemen.
These initiatives have improved essential services and
revitalized Yemen’s critical infrastructure.
Additionally, the Saudi Development and Reconstruction
Program for Yemen has implemented 263 development projects and initiatives
across Yemen, focusing on sectors including education, health, water, energy,
transportation, agriculture, fisheries, and government capacity building.
