Saudi Offers Over $3 Billion in Aid to Yemen

Saudi Arabia has announced to give over $3 billion aid to its unrest-ridden neighbor Yemen for developmental works.

During "the Friends of Yemen" meet held on May 23, 2012 in Riyadh city, Saudi Foreign Minister Prince Saud al-Faisal said the kingdom of Saudi Arabia "pledges $3.25 billion to aid Yemen in its development process."

In the meeting, attended by representatives of 42 donor countries, another $ 1 billion aid was expected to be announced to help Yemen overcome political, security and economic challenges.

The meeting, the third of its kind in three years, aimed to help maintain the stability of Yemen and support its government to fight the resurgent Al-Qaeda in the Arabian Peninsula (AQAP).

Yemen witnessed a year of popular protests, forcing the long-time leader Ali Abdullah Saleh out of power.

Under a Saudi-led Gulf Cooperation Council (GCC) deal backed by the UN, Saleh's deputy Abd-Rabbu Mansour Hadi was later elected as the new president in February for a two-year transitional term.