Saudi Arabia to provide $1.2B to Yemen

ISTANBUL

Saudi Arabia said on Tuesday it will provide $1.2 billion in support to Yemen to cover its budget deficit.

The primary aims of this fresh economic assistance were to assist Yemen in addressing its budget deficit, and strengthen the existing bonds between Saudi Arabia and Yemen, The Saudi Press Agency (SPA) reported.

Also, Saudi Arabia aimed to fulfill the Yemeni government's request for aid in managing the budget shortfall and provide support to the Yemeni Presidential Council.

Yemen has been engulfed by violence and instability since 2014, when Iranian-aligned Houthi rebels captured much of the country, including the capital, Sana’a.

Coalition forces led by Saudi Arabia have been supporting the Yemeni government against the Houthis since March 2015.

*Writing by Esra Tekin in Istanbul