Saudi program signs $7.3M deal to boost Yemen’s sustainable development

The Saudi Program for the Development and Reconstruction of Yemen (SPDRY) has signed an agreement worth $7.3 million with the Islamic Development Bank Group (IsDB) and the Yemeni government to aid sustainable development in Yemen.

The deal is a part of the first phase within the framework of the executive program for development cooperation signed between SPDRY and IsDB, in 2021.

The programme is aimed at funding and implementing projects in key economic sectors to create more employment opportunities for Yemen's youth and to reduce poverty, stated a report by Fast Company Middle East.

Launched in 2018, SPDRY is a part of Saudi's attemp to support Yemen's economic development. It supports small and medium-sized enterprises (SMEs) and aids local chains via training, education, and skill development.

Since its launch, it has carried out 224 development projects and initiatives across the country to assist the Yemeni people in various sectors.

As per Saudi Press Agency (SPA), 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.

King Salman Humanitarian Aid and Relief Center (KSRelief) is also continuing to support improvement of lives in Yemen.

As per recent reports, the center’s water and environmental sanitation project pumped 777,000 liters of water into the camps of Hodeidah Governorate, benefiting 9,800 individuals.

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