Saudi Arabia Pledges $500M to Support Yemen’s Economy and Development

TDT | Manama
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Saudi Arabia has announced a comprehensive $500 million economic aid package to bolster Yemen's economy and enhance the quality of life for its citizens. This initiative underscores Saudi Arabia’s steadfast commitment to stabilizing the Yemeni economy, strengthening the Central Bank of Yemen, and fostering long-term development.

The aid package includes:

• $300 million deposited into the Central Bank of Yemen to reinforce financial and monetary stability.
• $200 million allocated to address Yemen’s $1.2 billion budget deficit.

Administered through the Saudi Development and Reconstruction Program for Yemen (SDRPY), the funds will focus on food security, salary support, operational expenses, and economic reforms to fortify Yemen’s financial system.

Key Objectives:

• Stabilizing Yemen’s economy and empowering its private sector.
• Enhancing governance, transparency, and public financial management.
• Improving essential services, including healthcare, education, and electricity generation.

Saudi Arabia’s prior assistance has already yielded transformative results, from stabilizing the local currency and reducing inflation to improving food security. SDRPY has implemented over 263 development projects across sectors such as water, energy, agriculture, and transportation, laying a foundation for sustainable growth.

This new aid package represents a continuation of Saudi Arabia's vision to foster a stable, resilient, and self-sufficient Yemen.