Cabinet convenes on Saudi brotherly bailout

Government team discussed with World Bank delegation ways to strengthen partnership expand development projects

A meeting held Monday chaired by Minister of Planning and International Cooperation and Yemen’s Governor to the World Bank Dr. Afrah al-Zouba and attended by a high-level World Bank delegation led by the Bank’s Vice President for the Middle East, North Africa, Afghanistan and Pakistan Ousmane Dione discussed ways to enhance partnership and expand support across development, humanitarian, service, and economic sectors in the country.

Arab League Calls for Confronting Rising Anti-Muslim Hate

The Arab League on Sunday called for intensified international efforts to confront the growing phenomenon of hate speech and discrimination against Muslims in order to prevent deeper divisions among religions and cultures.

Oil rises as markets assess supply risks

Oil prices rose today, Tuesday, due to supply concerns, with Brent crude futures climbing $2.89, or 2.9 percent, to $102.83 per barrel.

Saudi League: Al-Nassr, Al-Ettifaq and Neom Secure Victories Over Al-Ittihad, Damac and Al-Riyadh

Al-Nassr defeated its guest Al-Ittihad 2–0 in the match that brought them together at Al-Awwal Park Stadium in Riyadh, as part of the 21st round of the Saudi Professional League.

Last Update: ، 2026/03/30 Time 11:51:07
Latest News:

Yemen Embassy Chargé d’Affaires discusses strengthening bilateral relations with South African official

Al-Subaihi stresses the need to double the provision of services to citizens in Abyan, tightening security

Al-Alimi praises Yemeni crowds expressing support for Saudi Arabia, Gulf states against Iranian aggression ..

Deputy Chief of Staff discusses with international expert child recruitment

Presidential Leadership Council member al-Subaihi receives Vice President of WB in Aden

Cabinet convenes on Saudi brotherly bailout

[17/01/2018 05:50]

ADEN-SABA
Yemen's Cabinet held a meeting in Aden on Wednesday onthe brotherly Saudi bailout in the form of a $2 billion deposit to stabilize the country's currency.

Earlier in the day Saudi Arabia’s King Salman bin Abdulaziz Al Saud ordered the amount to be deposited into the Central Bank of Yemen to stabilize the Yemeni Riyalwhich declined to unprecedented lows, the rial traded at 500 to the dollar this week.

"In the name of the Cabinet, I highly appreciate the orders of King Salman bin Abdulaziz Al Saud to deposit $2 billion into the Central Bank in order to lift the suffering of the Yemeni people," said Prime Minister Ahmed bin-Daghr at the opening of the Cabinet's meeting.

Bin-Daghr also thanked President Abd-Rabbu Mansour Hadi for his follow-up on this generous Saudi aid.

The Cabinet said "this generous support comes at a time we are facing complicated economic circumstances as a result of the war ignited by Iran's proxies and tools in Yemen – the Houthi rebel militia."