Saudi to give USD 1.2 bn in Yemen aid: officials

Saudi ambassador to Yemen Mohammed al-Jaber and Yemen's finance minister Salem bin Brik signed an agreement for a USD 1.2 billion Saudi grant for Yemen's internationally recognized government, in the latest attempt to prop up the war-scarred country's flagging economy.

Jaber said: "Different steps have been taken by Saudi Arabia's government to support peace in Yemen. We are today signing this agreement (USD 1.2 billion grant for Yemen's internationally recognised government) to help the Yemeni government, also to help all Yemenis and all Yemeni governorates. Also, that will help keep the de-escalation between all Yemeni parties inside Yemen. We will continue to speak to the Huthis and also to the government of Yemen to bring peace and stability to Yemen."

Bin Brik said: "This will ease the critical economic and humanitarian situation we are in now, a result of the Huthi militia targeting oil export facilities, which led to the state's general budget losing 65 percent of its revenues. The economy and the general budget have been affected, but this support, God willing, will relieve a lot of pressure on the Yemeni economy."