Saudi Arabia: $500m to support Yemen

Saudi Finance Minister Mohammed Al-Jadaan said that the World Bank proposed a portfolio of $500 million belonging to Yemen.

The minister added that the World Bank has provided $200 million, and Saudi Arabia is prepared to offer a further $100 million.

He stressed that more than 60 per cent of the amount has been allocated, and that the priorities now are the urgent matters that serve the Yemeni people.

The Saudi news agency quoted Al-Jadaan as saying that the Kingdom was paying great attention to the humanitarian situation in Yemen.

Hafez Ghanem, World Bank vice president for the Middle East and North Africa, said yesterday that the global financing body has prepared a draft for the reconstruction of Yemen addressing its development needs.