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22:18 GMT
ADEN, Nov 23 (KUNA) -- Yemeni Prime Minister Maeen Abdulmalik Saeed said Wednesday the Central Bank of Yemen received 1.1 billion dirhams (nearly USD 300 million), the first tranche of a Saudi-UAE deposit amounting to USD two billion.
The Bank and the Ministry of Finance will sign on Sunday a framework agreement with the Saudi side on a grant for oil and developmental projects costing up to USD one billion, he said at a press conference in Aden.
The Kingdom of Saudi Arabia, the United Arab Emirates and Yemen concluded consultations on the funding for Yemen in Riyadh in early April under auspices of the Gulf Cooperation Council (GCC).
The generous funding, contributed equally by both countries, will help alleviate the suffering of the Yemeni people due to shortage of fuels and oil by-products, the prime minister noted.
Following the consultations, Saudi Arabia pledged additional USD one billion, including USD 600 million for the Yemen oil acquisition fund and USD 400 million for development projects.
In addition, the Kingdom contributed USD 300 to the Yemen Humanitarian Response Plan of the United Nations. (end)
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