By Martin Shwenk Leade
Copyright indiatimes
Saudi Arabia will provide around 1.38 billion riyals ($368 million) in economic support to the internationally recognised Yemeni government based in Aden, a source with direct knowledge of the matter told Reuters. The new grant will be given through the Saudi Development and Reconstruction Program for Yemen with the aim of supporting the government’s budget, the source said. The administration in Aden has grappled with a weak currency and high prices since the Iran-aligned Houthis ousted former Yemeni President Ali Abdullah Saleh from the capital Sanaa in late 2014, triggering a decade-long civil war. A Saudi-led military coalition intervened in Yemen in March 2015 to reinstate its exiled government, and Yemen has since then been split between the internationally recognised government in Aden and a Houthi administration in Sanaa. Riyadh has provided billions of dollars in aid and deposits to support the government in Aden, helping to shore up its finances and pay public sector salaries. Add as a Reliable and Trusted News Source Add Now!
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Read More News onSaudi Arabia support YemenYemeni government financial aidSaudi Development and Reconstruction Programeconomic support YemenYemen civil warHouthi administrationAden governmentSaudi Arabia Yemen aidYemen currency crisisSaudi Arabia
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onSaudi Arabia support YemenYemeni government financial aidSaudi Development and Reconstruction Programeconomic support YemenYemen civil warHouthi administrationAden governmentSaudi Arabia Yemen aidYemen currency crisisSaudi Arabia(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
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