Yemen will now be governed by a new presidential leadership council, tasked with pushing for a peace effort and also for the distribution of a massive aid package. Saudi Arabia and the UAE have funded a $3 billion aid package to help fix Yemen’s devastated economy.
International governments have welcomed the moves, including support from France, Egypt, Bahrain, Jordan, Kuwait, Russia, Djibouti, and leaders of the GCC, Arab League, Arab Parliament, and the Organization for Islamic Cooperation.
The announcements come after a week of talks in Riyadh involving rival leaders from across Yemen’s political spectrum. Talks ended on Thursday. Following the conclusion of these talks, President Abed Rabbo Mansour Hadi and Vice President Ali Mohsen Al-Ahmar stepped down, and they are being replaced by this new presidential council.
The council will be made up of eight members. It will be chaired by Rashad Al-Alimi, who is an adviser to Hadi and an interior minister in the government of the late Ali Abdullah Saleh.
When Hadi stepped aside as president, he said that he has delegated full powers to the presidential leadership council, which is in accordance with the constitution as well as the Gulf Initiative.
Saudi Crown Prince Mohammed bin Salman met with the new council and told them that he hopes for a “new page” to be turned in Yemen.
Saudi Arabia has urged the council to enter negotiations with the Iranian-backed Houthi rebels.
Saudi Arabia and the UAE will each inject $1 billion into Yemen’s central bank in order to help boost the economy. The third billion is coming from the Kingdom, which will grant an additional $1 billion in oil derivatives, development funds, and a contribution to the UN aid appeal.
Another $300 million has also been pledged from Saudi Arabia to fund humanitarian response plans, which were announced by the United Nations in 2022 in order to alleviate the suffering in Yemen.
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