Yemen says Saudi Arabia to deposit $2 billion in its central bank

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Prince Saud Al-Faisal, Minister of Foreign Affairs, chaired the 3rd ministerial meeting of the Group of Friends of Yemen in May this year. Photo – AlRiyadh.com

Minister of Planning International Cooperation Mohammad Al Saadi said on Wednesday the Saudi Development Fund is to deposit $2 billion in Yemen’s Central Bank.

In a press conference held in Sana’a on Wednesday, Al Saadi confirmed that Yemen and the Saudi Development Fund will sign an agreement of depositing the money in the Central Bank of Yemen.

Al Saadi spelt out that the deposit is designed to support Yemen’s national currency and beef up the government’s efforts to develop the state economy. He added that Yemen is also persuading other states to take similar measures and help the country’s ailing economy.

A high-ranking government delegation led by Prime Minister Mohammad Salem Basindwa will represent Yemen at a donor conference in Riyadh where many donor states and organisation will take part and announce economic assistance plans.

Al Saadi expressed hope that the donor conference will be a tool to beef up Yemen’s stability, security and development.

Al Saadi revealed that another donor conference will be held in New York on 27 September.

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