Saudi Arabia to arrange $3bn in Yemen financial aid

Saudi Arabia said Thursday that it would arrange $3 billion of support for Yemen’s economy, hours after the Yemeni president’s decision to transfer his powers to a new presidential council, the official Saudi Press Agency (SPA) said. Riyadh announced the financial boost after Saudi crown prince Mohammed bin Salman met with President Abed Rabbo Mansour Hadi and members of a new Yemeni presidential council in the Saudi capital on Thursday. SPA said two-thirds of the $3 billion would come from Riyadh, while the rest of the money would be provided by the UAE, which is part of the Saudi-led militar…

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