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Saudi Arabia Supports Yemeni Presidential Council and Economic Stability

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Saudi Arabia has welcomed Yemeni President Abd Rabbo Mansour Hadi’s announcement regarding the launch of the Presidential Council under the Yemeni constitution and the Gulf initiative, along with its executive mechanisms.

The Kingdom has expressed its full support for the Presidential Council and its associated entities, aiming to enable them to effectively implement policies and initiatives for achieving security, stability, and ultimately resolving the crisis in Yemen, as reported by the Saudi Press Agency (SPA).

In a significant move, Saudi Arabia has pledged urgent support of $3 billion to the Yemeni economy. This support includes $2 billion from Saudi Arabia and the UAE to bolster the Central Bank of

Yemen, along with an additional $1 billion designated for petroleum products and development.

Furthermore, Riyadh has called for an international conference to support Yemen’s economy and announced a contribution of $300 million to the United Nations aid response, aimed at addressing Yemen’s humanitarian crisis. The overarching goal is to alleviate the suffering of the Yemeni people and enhance their living standards and access to essential services.

In addition to financial support, Saudi Arabia has urged the Presidential Council to initiate negotiations with the Houthi faction under UN supervision. The objective is to reach a comprehensive political solution, including a transitional period that fosters peace, development, and stability in Yemen, ultimately ensuring the well-being of its populace.