Barran Press
On December 27, 2024, Saudi Arabia declared a new economic support package for the internationally recognized Yemeni government, amounting to $500 million.
Mohammed Al-Jaber, the Saudi ambassador to Yemen, announced in a brief statement shared on platform X, reviewed by Barran Press, stating, "In continuation of our support for the Yemeni people, the Kingdom is providing new economic assistance of $500 million."
According to Al-Jaber, this support includes a $300 million deposit to the Central Bank of Yemen and a fourth tranche of $200 million aimed at addressing the government's budget deficit. This funding will assist in covering salaries, operational expenses, and food security needs within Yemen.
Yemeni Prime Minister Ahmed Awad Bin Mubarak expressed gratitude to Saudi Arabia for this new support. In a statement, he remarked, "We extend our heartfelt thanks to our brothers in the Kingdom for their ongoing and generous support to the Yemeni government, particularly with the release of the fourth tranche of $200 million for the general budget, alongside the $300 million deposit to the Central Bank."
Bin Mubarak emphasized that this support will enable his government to pay state employees' salaries, stabilize the currency, and continue its commitment to financial and administrative reforms, as well as anti-corruption efforts.
In August 2023, Saudi Arabia announced a larger economic support package for Yemen totaling $1.2 billion in response to the Yemeni government's request to help address its budget deficit. The first payment of $250 million was made in the same month, followed by two additional payments of the same amount in January and February 2024.