RIYADH — Saudi Arabia, represented by the Saudi Development and Reconstruction Program for Yemen (SDRPY), has signed an agreement with the Yemeni Ministry of Finance to deposit SR1.3 billion toward economic support. This follows the directives from the Saudi leadership.Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed Al Jaber and Yemeni Finance Minister Marwan bin Ghanem signed the agreement in a ceremony held in Riyadh on Sunday. Under the agreement, funds will be allocated to cover operational expenses and salaries while reinforcing financial governance and transparency.This support aims to bridge the budget deficit, bolster foreign exchange reserves, and enhance the Yemeni state’s capacity to meet its obligations and implement economic reforms. By ensuring regular income for families and improving purchasing power, the initiative seeks to stabilize the macro-economy and revitalize commercial markets.Furthermore, the agreement extends the Kingdom’s historical support, including central bank deposits and petroleum grants, while continuing the SDRPY’s institutional capacity-building program launched in 2021 to empower Yemeni government personnel and improve performance across vital sectors.RIYADH — Saudi Arabia, represented by the Saudi Development and Reconstruction Program for Yemen (SDRPY), has signed an agreement with the Yemeni Ministry of Finance to deposit SR1.3 billion toward economic support. This follows the directives from the Saudi leadership.Saudi Ambassador to Yemen and SDRPY General Supervisor Mohammed Al Jaber and Yemeni Finance Minister Marwan bin Ghanem signed the agreement in a ceremony held in Riyadh on Sunday. Under the agreement, funds will be allocated to cover operational expenses and salaries while reinforcing financial governance and transparency.This support aims to bridge the budget deficit, bolster foreign exchange reserves, and enhance the Yemeni state’s capacity to meet its obligations and implement economic reforms. By ensuring regular income for families and improving purchasing power, the initiative seeks to stabilize the macro-economy and revitalize commercial markets.Furthermore, the agreement extends the Kingdom’s historical support, including central bank deposits and petroleum grants, while continuing the SDRPY’s institutional capacity-building program launched in 2021 to empower Yemeni government personnel and improve performance across vital sectors.
