Yemen: Saudi Arabia Welcomes Transfer of Power, Offers $3bn in Urgent Aid

KSA welcomes Yemeni President's in establishment of Presidential Leadership Council & has offered urgent aid of $3bn boost for the economy.

Arab League Chief Backs President Hadi’s Decision

Riyadh: Saudi Arabia welcomed the Yemeni President’s announcement to establish a Presidential Leadership Council. This council will conduct presidential duties during the transitional period.

President Abd-Rabbo Mansour Hadi has delegated all his presidential powers to the council. The transfer of powers is as per the constitution and the executive mechanisms of the Gulf initiative.

Saudi Arabia has reiterated its full support for the Presidential Leadership Council. And will support the council’s policies and initiatives to bring peace to Yemen and an end to the Yemeni crisis.

Saudi Arabia has offered urgent aid in this regard. A $3 billion boost for the economy in Yemen.

The urgent aid includes $2 billion in support for the Yemeni Central Bank. This urgent aid is a joint offer by Saudi Arabia and the United Arab Emirates.

The Kingdom will also provide $600 million for oil purchases and $400 million for other development projects.

Saudi Arabia has offered an additional $300 million for the humanitarian response plan of the UN. This project works to alleviate the suffering and improve the living conditions of the Yemeni people.

The Kingdom has also called for an international donor conference to support the Yemeni economy. And support the Yemeni Central Bank and help in oil purchases.

Saudi Arabia urged the Yemeni council to negotiate peace with the Houthis under the UN’s watch. Achieve a final and comprehensive political solution to peace and development for the people of Yemen.

The Arab League also welcomed President Hadi’s decision to form the Presidential Leadership Council and delegate all powers to the council.

Aboul Gheit, the Arab league’s chief, supported the new leadership council. He expressed hope that the council could lead the country toward realizing peace.

The league’s secretary-general has called on all parties to preserve the current truce as a first step. The next will be to bring an end to Yemeni suffering. Restore stability and security in the country, and ensure that Yemen does not threaten neighboring countries.

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