Saudi Arabia to provide $500m in new economic support for Yemen

RIYADH: Saudi Arabia announced on Friday a new economic support package for Yemen worth $500 million and aimed at bolstering the government’s budget, stabilizing the Central Bank of Yemen, and fostering the development and stability of the Yemeni people.

The latest assistance includes a $300 million deposit into the Central Bank of Yemen to improve economic and financial conditions, alongside $200 million to address the Yemeni budget deficit, the Saudi Press Agency reported.

The latest funding forms part of a larger $1.2 billion initiative through the Saudi Development and Reconstruction Program for Yemen. The program focuses on enhancing food security; supporting wages and operating expenses; and aiding the Yemeni government in implementing its economic reform agenda.

The new support aims to establish economic, financial, and monetary stability in Yemen by strengthening public finances, building government institutional capacity, and enhancing governance and transparency, the SPA added.

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The assistance will empower the private sector to drive sustainable economic growth, create job opportunities, and place Yemen’s national economy on a more sustainable path for economic and social development.

Saudi Arabia’s previous economic assistance included deposits in the Central Bank of Yemen, which increased foreign exchange reserves, stabilized the local currency, reduced exchange rates, and stimulated the growth in gross domestic product.

The assistance also lowered fuel and diesel costs, reduced prices of imported food commodities, and supported the import of essential goods, including wheat, rice, milk, cooking oil, and sugar.

In addition, Saudi grants have helped the Yemeni government manage operating expenses, pay salaries, and mitigate the economic crisis by boosting foreign exchange reserves and restoring confidence in Yemen’s financial institutions.

These measures reduced reliance on borrowing to finance budget deficits, enhanced financial system stability, and alleviated inflationary pressures.

Saudi Arabia has also prioritized critical sectors in Yemen through grants and projects implemented by SDRPY, including more than 260 development initiatives across various Yemeni governorates, covering education, health, water, energy, transportation, agriculture, and fisheries.

These projects have improved access to essential services; provided medical treatments for chronic diseases and cancer patients; supported education; and ensured the provision of petroleum derivatives for electricity generation.

Saudi Arabia’s grants for petroleum derivatives have played a vital role in operating 80 power plants across Yemen, boosting energy efficiency and revitalizing productive and service sectors.

Saudi Arabia to provide $500m in new economic support for Yemen

ARAB NEWS

UN health chief at Yemen airport during Israeli strikes

The head of the World Health Organization (WHO) and other UN staff were at Yemen’s international airport in Sanaa on Thursday during Israeli air strikes which are reported to have killed at least six people.

WHO Director General Tedros Adhanom Ghebreyesus said they were about to board a plane when the attacks began.

Houthi-run Saba news agency said three people were killed at the airport and 30 injured. It said another three people were killed and 10 wounded in the western Hodeidah province.

The Iran-backed rebel group described the attacks – which also hit power stations and ports – as “barbaric”. Israel’s military said it carried out “intelligence-based strikes on military targets”.

UN health chief at Yemen airport during Israeli strikes

BBC

Baby freezes to death overnight in Gaza as ceasefire delays

JERUSALEM: A baby girl froze to death overnight in Gaza, while Israel and Hamas accused each other of complicating ceasefire efforts that could wind down the 14-month war.

The 3-week old baby was the third to die from the cold in Gaza’s tent camps in recent days, doctors said, deaths that underscore the squalid conditions, with hundreds of thousands of Palestinians crammed into often ramshackle tents after fleeing Israeli offensives.

Israel’s bombardment and ground invasion of Gaza has killed over 45,000 Palestinians, more than half of them women and children, according to Gaza’s Health Ministry.

The offensive has caused widespread destruction and displaced some 90 percent of Gaza’s 2.3 million people, often multiple times. Hundreds of thousands are packed into tent camps along the coast as the cold, wet winter sets in. Aid groups have struggled to deliver food and supplies and say there are shortages of blankets, warm clothing and firewood.

Israel has increased the amount of aid it allows into the territory, reaching an average of 130 trucks a day so far this month, up from around 70 a day in October and November. Still, the amount remains well below than previous months and the United Nations says it is unable to distribute more than half the aid because Israeli forces deny permission to move within Gaza or because of rampant lawlessness and theft from trucks.

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The father of 3-week-old Sila, Mahmoud Al-Faseeh, wrapped her in a blanket to try and keep her warm in their tent in the Muwasi area outside the town of Khan Younis, but it wasn’t enough, he told The Associated Press. He said the tent was not sealed from the wind and the ground was cold, as temperatures on Tuesday night dropped to 9 degrees Celsius (48 degrees Fahrenheit.) Muwasi is a desolate area of dunes and farmland on Gaza’s Mediterranean coast.

“It was very cold overnight and as adults we couldn’t even take it. We couldn’t stay warm,” he said. Sila woke up crying three times overnight and in the morning they found her unresponsive, her body stiff.

“She was like wood,” said Al-Faseeh. They rushed her to a field hospital where doctors tried to revive her, but her lungs had already deteriorated. Images of Sila taken by the AP showed the little girl with purple lips, her pale skin blotchy.

Ahmed Al-Farra, director of the children’s ward at Nasser Hospital in Khan Younis, confirmed that the baby died of hypothermia. He said two other babies — one 3 days old, the other a month old — had been brought to the hospital over the past 48 hours after dying of hypothermia.

Meanwhile, hopes for a ceasefire looked complicated Wednesday, with Israel and the militant Hamas group that runs Gaza trading accusations of delaying an agreement. In recent weeks, the two sides appeared to be inching toward a deal that would bring home dozens of hostages held by the militants in Gaza, but differences have emerged.

Although Israel and Hamas have expressed optimism that progress was being made toward a deal, sticking points remain over the exchange of hostages for Palestinian prisoners and the withdrawal of Israeli troops from Gaza, people involved in the talks say.

On Wednesday, Hamas accused Israel of introducing new conditions related to the withdrawal from Gaza, the prisoners and the return of displaced people, which it said was delaying the deal.

Israel’s government accused Hamas of reneging on understandings that have already been reached.” Still, both sides said discussions are ongoing.

Israel’s negotiating team, which includes members from its intelligence agencies and the military, returned from Qatar on Tuesday evening for internal consultations, following a week of what it called “significant negotiations.”

During its Oct. 7, 2023, attack on southern Israel, Hamas and other groups took about 250 people hostages and brought them to Gaza. A previous truce in November 2023 freed more than 100 hostages, while others have been rescued or their remains have been recovered over the past year.

Israel says about 100 hostages remain in Gaza — at least a third whom it believes were killed during the Oct. 7 attack or died in captivity.

Sporadic talks have taken place for a year, but in recent weeks there’s been a renewed push to reach a deal.

President-elect Donald Trump, who takes office next month for his second term, has demanded the immediate release of Israeli hostages, saying on social media that if they’re not freed before he is sworn in, there will be “HELL TO PAY.”

Families of the hostages are becoming increasingly angry, calling on the Israeli government for a ceasefire before Trump is sworn in.

After Israel’s high-level negotiation team returned from Doha this week, hostage families called an emergency press conference in Tel Aviv, Israel, pleading for a ceasefire and a complete end to the war.

Shir Siegel, the daughter of Israeli-American Keith Siegel, whose mother was released after more than 50 days in captivity, said every delay could endanger their lives. “There are moments when every second is fateful, and this is one of those moments,” she said.

Families of the hostages marked the first night of Hannukah with a candle lighting ceremony in Tel Aviv as well as by the Western Wall in Jerusalem.

The agreement would take effect in phases and include a halt in fighting, an exchange of Israeli hostages for Palestinian prisoners, and a surge in aid to the besieged Gaza, according to Egyptian, Hamas and American officials. The last phase would include the release of any remaining hostages, an end to the war and talks on reconstruction.

Baby freezes to death overnight in Gaza as ceasefire delays

ARAB NEWS