The Saudi Program for the Development and Reconstruction of Yemen (SPDRY) signed a $7.3 million agreement with the Islamic Development Bank Group (IsDB) and the Yemeni government to support sustainable development in Yemen.
The deal represented the first phase of the executive program for development cooperation between SPDRY and IsDB, which was signed last year, reported Saudi Press Agency (SPA). The program aims to fund and implement projects in key economic sectors that create jobs for Yemeni youth and alleviate poverty.
“The agreement aims to establish a general framework for activating development cooperation in Yemen, addressing challenges related to agricultural production chains, and improving access to markets by addressing current gaps in the trade and production sectors,” read the SPA statement.
SPDRY was part of the Kingdom’s efforts to support the economic development of Yemen. Since its launch in 2018, it has carried out 224 development projects and initiatives across the country to assist the Yemeni people in various sectors, according to SPA. Meanwhile, King Salman Humanitarian Aid and Relief Center (KSRelief) has continued its work to improve lives in Yemen.
The center’s water and environmental sanitation project pumped 777,000 liters of water in the camps of Hodeidah Governorate, benefiting 9,800 individuals during the second week of December.