How Has Saudi Arabia’s Oil Grant Alleviated Suffering in Yemen?

Features

September 26th, 7:36am

Aden – Ali Rabih

The fourth batch of the Saudi oil derivatives grant is delivered to Yemen. (Saba)

Beyond the help Saudi Arabia’s oil grant has already given Yemenis, aspirations are growing on better benefitting from the donation by improving performance and collecting revenues in a way that ensures the smooth operation of power stations in government-run governorates. The fourth batch of the oil derivatives grant provided by Saudi Arabia via the Saudi Development and Reconstruction Program for Yemen (SDRPY) to Yemen had arrived at the port of Aden on Friday. It totaled 115,000 tons of Saudi oil derivatives, including 75,000 tons of diesel and 40,000 tons of fuel oil, taking to 302,000 tons since the grant, worth 422 million dollars, was first announced. The grant aims to meet the monthly need of the power stations in Yemeni governorates. “The Saudi oil derivatives grant had a positive impact on improving the level of electric power, and contributed during the first quarter of 2021 to the production of more than 764 megawatts as it contributed to improving the general conditions in various economic, health, educational, and service fields,” said Director of the Aden-based SDRPY’s office, Ahmed Madkhali. “It also contributed to raising the operating capacity in the shops, increasing the hours of electricity operation in the governorates and reducing blackouts, which helped achieve economic stability,” he reaffirmed. The previous three batches contributed to the operation of 80 power stations in various Yemeni governorates, under the supervision and follow-up of the Oil Derivatives Distribution Committee. The Saudi grant has helped ease the burden on the Yemeni government’s budget, limited the depletion of hard currency by the Central Bank of Yemen to purchase oil derivatives from global markets, contributed to providing job opportunities and improved vital sectors services and the lives of Yemeni citizens.

from Asharq AL-awsat https://english.aawsat.com/home/article/3210476/how-has-saudi-arabia%E2%80%99s-oil-grant-alleviated-suffering-yemen