Riyadh:In a significant move, the Kingdom of Saudi Arabia has contributed a new financial installment of more than SAR224 million to support Yemen's state budget through the Saudi Development and Reconstruction Program for Yemen (SDRPY).
According to Saudi Press Agency, this funding is intended to cover operational expenses and salaries, demonstrating Saudi Arabia's continued commitment to fostering stability and development for the Yemeni people.
The financial support aims to ensure a regular flow of government funds and salary payments, while also enhancing fiscal policy efficiency to place economic and social development on a more sustainable course. It is expected to increase purchasing power, stabilize household incomes, and rejuvenate commercial markets.
Saudi Arabia remains Yemen's largest supporter across humanitarian, development, and economic sectors. Its interventions, totaling over $12.6 billion between 2012 and 2026, include deposits and grants to the Central Bank of Yemen. These efforts are designed to achieve fiscal balance and support macroeconomic stability, strengthening Yemeni institutions' capacity to continue delivering services and alleviating economic and social pressures.
The SDRPY has executed 300 development projects and initiatives in Yemen, focusing on upgrading infrastructure, improving public services, building local institutional capacity, and creating job opportunities across eight vital sectors.