Saudi gives $2 bn to Yemen

Riyadh Jan 17 (IANS) Saudi King Salman bin Abdulaziz Al Saud on Wednesday ordered the transfer of $2 billion to the Central Bank of Yemen to alleviate the suffering of Yemeni people media reports said.

The contribution aims to help the Yemeni people cope with the economic burdens imposed by Iran-backed Houthi militias the Saudi authorities said in a statement.

The Saudis also accused Houthis of looting the state by seizing government revenues Xinhua news reported quoting the Saudi Press Agency.

Their actions have resulted in a steady devaluation of the currency which has significantly damaged the lives of Yemenis for years the statement said.

With the current financial aid the total contribution of Saudi Arabia to the Central Bank of Yemen will reach $3 billion.

--IANS
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