Saudi Arabia to grant Yemen $1.2 billion in economic aid
1 year, 4 months ago

Saudi Arabia to grant Yemen $1.2 billion in economic aid

Associated Press  

SANAA, Yemen — Saudi Arabia said Tuesday it will grant $1.2 billion in financial aid to Yemen’s internationally recognized government in a bid to bolster the country’s struggling economy. Riyadh said in a statement the cash injection is part of Saudi Arabia’s ongoing efforts to help stabilize Yemini food prices, address the country’s budget deficit and support salary payments. The conflict in the South Arabian country broke out in 2014 when Iran-backed Houthi rebels seized Yemen’s capital Sanaa, along with much of the north of the country, forcing the internationally recognized government into exile. In a corresponding statement Tuesday, Yemen’s government said the $1.2 billion aid package would be used to address its budget deficit, support salaries and ensure food security.

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