Saudi Finance Minister, YCB Governor Sign Agreement to Extend 2018 Deposit for Yemen

Republican Yemen

The Kingdom of Saudi Arabia has extended a deposit provided to the Aden-based Centra Bank of Yemen (CBY) in 2018 and agreed to pay its final installment, Saudi Ambassador to Yemen Mohammed Al Jaber said on Monday.

Al Jaber said the Governor of the central bank of Yemen’s internationally recognized government, Ahmed Ghaleb, and the Saudi Finance Minister, Abdulaziz Al Rasheed, signed an agreement to extend the duration of the 2018 deposit to be used to support Yemen’s economy.

The final installment of the 2018 deposit amounts to $174 million, according to Aden-based CBY

“Work is also under way to discuss the governance and mechanism of the deposit, which was provided by the Kingdom and the UAE in the amount of $2 billion,” Saudi Arabia’s ambassador to Yemen Mohammed Al Jaber said in a tweet.

On April 7, Saudi Arabia and the UAE announced an urgent support package of 3 billion dollars for Yemen to support Yemen’s currency and economy.

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