Reports: Saudi Arabia to deposit $1 billion in Yemen’s central bank
The European Union also announced additional funding for Yemen, while a famine watchdog said that economic warfare is increasingly causing hardship for Yemenis.
Saudi Arabia will soon give $1 billion to the internationally recognized Yemen government, according to media reports published on Tuesday.
Reuters reported that the kingdom will deposit the money into the government’s central bank based in Aden. The move is in response to Yemen’s weak currency and high fuel and commodity prices, according to the outlet.
Bloomberg later confirmed the news. The Saudi Embassy in Washington did not respond to Al-Monitor’s request for comment.
Background: Yemen's civil war began in 2014 and has led to two rival administrations in the country: the internationally recognized government based in Aden, and the Houthi rebels based in Sanaa. Iran supports the Houthis while a Saudi-led coalition backs the government. A cease-fire between the two sides ended last October.
