Saudi Arabia to deposit $1 billion in Yemen’s central bank

Saudi Arabia will make a $1 billion deposit in Yemen’s Aden-based central bank on Tuesday, Saudi Arabia’s state news agency SPA said, as the government there struggles with a weak currency and high fuel and commodity prices.

In implementation of the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and his trustworthy Crown Prince – may God protect them -, the Kingdom signed a deposit agreement with the Central Bank of Yemen in the amount of (1,000,000,000) billion dollars, and it was fully deposited in the bank’s account.

This support comes as an extension of the Kingdom’s keenness and continuous support in supporting the brothers in the Republic of Yemen developmentally and economically.

It is hoped, God willing, that this deposit will contribute to strengthening capacities in the field of implementing the economic reform program of the Republic of Yemen with the Arab Monetary Fund as a technical body to enable Yemen to enhance economic stability.