The Saudi Development and Reconstruction Program for Yemen (SDRPY) and the Yemeni government today signed two development agreements and a memorandum of cooperation aimed at supporting Yemen’s economic stability, improving basic services, and strengthening institutional capacity. The initiative reflects the Kingdom’s ongoing commitment to supporting the Yemeni people.
The agreements include one to support the Yemeni government’s budget deficit, in response to its priorities in addressing urgent economic and developmental challenges. This support seeks to help establish the foundations of economic, financial, and monetary stability in Yemen.
Another agreement provides for the supply of petroleum derivatives to the Yemeni government to operate power plants across various governorates. The initiative aims to improve service delivery, increase electricity operating hours, and reduce the financial burden on the Central Bank of Yemen by alleviating the need to procure fuel in hard currency from international markets. The agreement is expected to positively impact living conditions and enhance economic stability.
Additionally, a memorandum of cooperation was signed between the SDRPY and Yemen’s Ministry of Interior to support the ministry’s efforts in building technical and institutional capacities and to facilitate knowledge exchange with counterpart agencies in Saudi Arabia. The memorandum aims to improve institutional performance and strengthen the ministry’s infrastructure.
This cooperation underscores the Kingdom’s steadfast support for Yemen in multiple vital sectors, contributing to the development of government institutions, promoting economic recovery, and enhancing essential services. It also reflects the depth of fraternal relations between the two countries and the Kingdom’s leading role in advancing development and stability in Yemen.
The SDRPY has implemented 265 development projects and initiatives across eight key sectors: education, health, water, energy, transportation, agriculture and fisheries, government capacity building, and comprehensive development programs, covering various Yemeni governorates.