Riyadh: Saudi Arabia has announced the allocation of SAR 1,380,250,000 in new economic development support to Yemen, through the Saudi Development and Reconstruction Program for Yemen (SDRPY).
According to Bahrain News Agency, the initiative comes under the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and on the recommendation of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia. It also follows the appeal of the President of the Yemeni Presidential Leadership Council, Dr. Rashad Mohammed Al Alimi, due to the economic challenges facing Yemen.
This support affirms the Kingdom's commitment to backing the Yemeni Presidential Leadership Council and government, while also emphasizing its efforts to achieve security, stability, and development for the Yemeni people, Saudi Press Agency (SPA) reported.
The package includes support for the government budget, subsidies for petroleum derivatives, and funding for the operating budget of Prince Mohammed bin Salman Hospital in Aden Governorate. These measures are intended to bolster economic, financial, and monetary stability, and are aligned with governance practices that support the Yemeni government's reform efforts.