(MENAFN- Saudi Press Agency) The Kingdom of Saudi Arabia is at the forefront of countries supporting brotherly Yemen in various fields, whereas it is still working on the translation of international will to help Yemen on the ground through its participation in several international meetings aimed at promoting Yemen.
Among the Saudi contributions, the Kingdom's participation in the meetings of the Group of Friends of Yemen, whereas it called on the international community to fulfill its obligations to Yemen to support the efforts of reconstruction and political transition there.
In 2012, the international community pledged $ 7.9 billion to Yemen, where the Kingdom confirmed after a year of commitment, the need that the international community meets its promises after Yemen made significant progress since its approval of Gulf Cooperation Council (GCC) Arab States' initiative, which stipulated the formation of a national reconciliation government and the launch of a national dialogue overseeing the development of a draft constitution followed by new parliamentary and presidential elections.
In the meetings of the Friends of Yemen in 2012, the Kingdom of Saudi Arabia announced offering new pledges totaling $ 3.5 billion, of which $ 1 (one billion) will be as a deposit at Yemen Central Bank to support the Yemeni currency stability as well as the allocation of one billion and 750 million dollars to finance the economic, health, academic and humanitarian aid development projects, in addition to $ 500 million to fund and guarantee Saudi exports.
Moreover, the Saudi Development Fund contributed more than one hundred million dollars to support the electricity sector and a package of aid to finance development projects exceeded the proportion allocated by the Kingdom of the total pledges to Yemen by 93%, added to the assistance provided by the Kingdom in the last five years ( before 2012), exceeding $ three billion.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.