Saudi Arabia Highlights Role in Supporting Yemen’s Economic Stability at Washington Roundtable

Post by : Saif Ali Khan

Saudi Arabia emphasized its key role in promoting economic stability in Yemen during a high-level roundtable discussion held on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings in Washington.

The discussion, titled “Enabling Jobs in Fragile and Conflict-Affected Environments: Stimulating Private Investments,” brought together ministers, senior officials, and development experts from countries including the UK, Belgium, Germany, Somalia, Guinea, and Ethiopia, as well as representatives from international organizations such as the World Bank and the Multilateral Investment Guarantee Agency.

Leading the Saudi delegation was Hassan Al-Attas, Assistant Supervisor-General of the Saudi Development and Reconstruction Program for Yemen (SDRPY). He highlighted Saudi Arabia’s commitment as Yemen’s largest supporter, providing over $26 billion in development, economic, and humanitarian aid over the past decades.

Since 2018, Saudi Arabia has offered direct financial support to Yemen’s Central Bank and Ministry of Finance, including a $2 billion deposit for essential food imports. Between 2012 and 2025, total aid exceeded $12 billion, helping the Yemeni government manage its budget, maintain foreign currency reserves, stabilize markets, and support private sector activity.

Al-Attas also outlined the program’s development work, focusing on government sector support, infrastructure investments, human capital development, and private sector stimulation. These efforts have strengthened institutions, limited the depletion of foreign reserves, and enabled ministries to implement more effective economic policies.

To date, the Saudi program has delivered over 265 development projects and initiatives across 16 Yemeni governorates, covering eight critical sectors, with a total investment of $1.145 billion. These projects are closely supervised by the program’s executive offices to ensure efficient and effective implementation.

During the Washington meetings, the Saudi delegation held bilateral discussions with Yemeni Minister of Planning and International Cooperation Waed Abdullah Badhib, the executive director of Saudi Arabia’s office at the World Bank, Suhail Al-Saeed, and senior international advisers. The talks focused on enhancing cooperation and supporting sustainable development efforts in Yemen.

Al-Attas emphasized that the Saudi strategy in Yemen is not only about providing financial aid but also about creating a stable economic environment, boosting private sector opportunities, and strengthening Yemen’s long-term development prospects.

The roundtable underlined the importance of international collaboration, innovative investment, and practical interventions in fragile states like Yemen. Saudi Arabia’s efforts demonstrate a long-term commitment to stability, economic growth, and human development in the region.