Saudi Arabia deposits $1 billion in Yemen’s central bank

A view of the Central Bank of Yemen in Aden, Yemen. (File/Reuters)
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Updated 21 February 2023
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Saudi Arabia deposits $1 billion in Yemen’s central bank

  • The support comes as an extension of the Kingdom’s keenness to support development in Yemen and its economy

RIYADH: Saudi Arabia made a $1 billion deposit in Yemen’s central bank on Tuesday, Saudi Press Agency reported.

The support comes as an extension of the Kingdom’s keenness to support development in Yemen and its economy.

The deposit will contribute to strengthening capacities in the field of implementing Yemen’s economic reform program with the Arab Monetary Fund as a technical body, SPA said.

The reform program aims to develop a clear road map and vision that takes care of the Yemeni people and addresses their needs, in addition to strengthening efforts to build reserves at the Central Bank of Yemen to enable it to enhance economic stability.


KSrelief delivers food, winter aid in Yemen

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KSrelief delivers food, winter aid in Yemen

RIYADH: The Saudi aid agency KSrelief has dispatched a relief convoy to the wadi and desert districts of Yemen’s Hadramout governorate, providing tents and shelter kits.

These supplies will be stored as a strategic stockpile in local warehouses, the Saudi Press Agency reported on Monday.

Field distribution teams will deploy the aid as needed, following precise mechanisms to ensure it reaches those in need, the SPA added.

Meanwhile, KSrelief has continued distributing over 27,000 food baskets to the most vulnerable families in Hadramout’s desert areas, benefiting 190,400 individuals.

The agency has also delivered 4,170 winter clothing sets to vulnerable families as part of its clothing distribution project which aims to protect residents from severe cold, improve living conditions, and alleviate winter hardships.

Since its establishment in 2015, KSrelief has implemented 1,178 projects in Yemen at a total cost of about $4.7 billion. This aid has helped in the areas of food security, early recovery, water, sanitation and hygiene, health, camp coordination, education, protection, emergency aid, and nutrition.