https://arab.news/nttqf
- The Saudi grants have reduced the burdens on the Yemeni government鈥檚 budget, reduced the depletion of hard currency in purchasing oil derivatives from global markets
ADEN: A total of 75,000 metric tons of Saudi oil derivatives reached the Port of Aden to help the Yemeni authorities meet the growing energy demands.
Sent with the help of the Saudi Development and Reconstruction Program for Yemen (SDPRY), the shipment was received by the Deputy Gov. of Aden Badr Mouaen, the first undersecretary of Aden Mohammed Nasr Al-Shathili, SDPRY representative Mohammed Al-Yehya, and other officials.
Al-Yehya hoped that the third batch, worth a total of $4.2 billion, will reach the intended beneficiaries and improve the living standards of Yemenis.
Earlier batches in May and June helped increase energy output by more than 25 percent in Yemeni governorates and more than 40 percent in Aden and stabilized fuel supplies.
The Saudi grants have reduced the burdens on the Yemeni government鈥檚 budget, reduced the depletion of hard currency in purchasing oil derivatives from global markets, stabilized Yemen鈥檚 riyal exchange rate and fuel prices against the US dollar, provided job opportunities, raised the productivity of Yemeni citizens, raised the performance of vital sectors鈥� services, and improved the livelihoods of Yemenis.
The grant has helped to address the problem of frequent outages and increase power hours by 30 percent in comparison with March.
This support has had a positive impact on the economic, health and educational fields, and has improved general living conditions.
The SDPRY and the Yemeni government have developed an integrated governance mechanism for oil derivatives.
The Yemeni government has formed a supervisory committee consisting of Yemeni ministries and relevant authorities. The committee ensures that the grant reaches the intended beneficiaries and that the oil derivatives are used for their intended purpose.
The joint committee has scheduled the shipments of the Saudi oil derivatives grant to help the Yemeni government direct its expenses, use the amounts which were allocated to buy the oil derivatives to support the salaries of public employees and provide basic public services.
SDPRY has so far implemented 198 development projects and initiatives to support the Yemeni people in seven different sectors: education, health, water, transport, agriculture and fisheries as well as strengthening governmental institutions.