King Salman announces $200 million grant to Yemen central bank

King Salman ordered the grant for the bank on Monday. (SPA)
Updated 02 October 2018
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King Salman announces $200 million grant to Yemen central bank

  • Saudi Arabia is the biggest donor of aid to Yemen

JEDDAH: Yemen’s central bank will get a much needed boost after Saudi Arabia’s King Salman ordered a $200 million grant be given to the institution on Monday.
The bank hiked interest rates to nearly doubled last month after demonstrations against the plunging currency.
The move is aimed at stabilizing the country’s economy to alleviate the financial burden on Yemenis. 
Saudi Arabia is the biggest donor of aid to Yemen and has been engaged, along with Arab allies, in restoring legitimacy to Yemen’s internationally recognized government against Iranian backed Houthi militia who have illegally captured parts of the country.  
In March, Saudi Arabia agreed to deposit an additional $2 billion into Yemen’s central bank, bringing the total aid to the lender to $3 billion.


Iranian regime continues to feed sectarianism: Saudi deputy defense minister

Updated 39 min 44 sec ago
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Iranian regime continues to feed sectarianism: Saudi deputy defense minister

  • “We have to choose between the chaos that Iran spreads and stability, security and development,” he said
  • A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday

DUBAI: Saudi Arabia’s Deputy Defense Minister Khalid bin Salman said the Iranian regime continues to feed sectarianism and disrespect international laws at the eighth Moscow Conference on International Security on Wednesday.

“We have to choose between the chaos that Iran spreads and stability, security and development,” he said adding that “Iran is spreading chaos in the region through destruction and bloodshed, and by supporting the militias of Hezbollah and Houthis.”

“Houthi militias continue to violate the resolutions of the Security Council and the Stockholm Agreement, ignored UN resolution 2216 and the Gulf initiative…our goal is to achieve stability for Yemeni citizens under a legitimate government,” he said.

The deputy defense minister also said that the Kingdom is witnessing today an unprecedented transformation and development to achieve the vision 2030.

A delegation led by Prince Khalid bin Salman bin Abdulaziz, the Saudi deputy minister of defense, has arrived in Russia for an official visit on Tuesday, during which the members will take part in the eighth Moscow Conference on International Security and hold a number of meetings.

Prince Khalid was welcomed by Saudi Ambassador to Russia Dr. Raed Qurmali, military adviser Maj. Gen. Talal Al-Otaibi and Military Attache Gen. Mohammad Al-Mutairi, along with the deputy chief of staff of the Russian defense ministry and other civilian and military officials.