On Thursday, the Kingdom of Saudi Arabia welcomed the decision of Yemeni President Abdrabbuh Mansur Hadi to transfer his powers to the Presidential Leadership Council. The Kingdom reiterated its full support for the Yemeni Presidential Leadership Council to enable it to carry out its responsibilities in implementing effective policies and initiatives aimed at achieving security and stability in the Republic of Yemen and ending the Yemeni crisis. The Kingdom also announced an urgent support package for the Yemeni economy amounting to $3 billion and called for an international conference to mobilize the necessary financial resources to support the Yemeni economy, urging the Yemeni Presidential Council to commence negotiations under UN supervision.
Yemeni President Abdrabbuh Mansur Hadi issued, early on Thursday morning, a decision to form a Presidential Leadership Council, transferring all his powers to it according to the constitution, the Gulf Initiative, and its executive mechanism. He also issued a decision to relieve his deputy, Ali Mohsen al-Ahmar, from his position. The presidential statement indicated that the new Presidential Leadership Council in Yemen will manage the state politically, militarily, and security-wise throughout the transitional phase.
The Saudi statement noted that "in line with the Kingdom of Saudi Arabia's ongoing efforts to support peace and stability in Yemen and to reach a comprehensive political solution among the Yemeni parties to achieve peace, development, and prosperity for Yemen and its brotherly people, the Kingdom welcomes the announcement by Yemeni President Abdrabbuh Mansur Hadi in accordance with the Yemeni constitution and the Gulf Initiative and its executive mechanisms to establish the Presidential Leadership Council to complete the tasks of the transitional phase and empower it with all the powers of the President of the Republic according to the constitution and the Gulf Initiative and its executive mechanisms."
The Kingdom confirms its full support for the Presidential Leadership Council and the entities assisting it to enable it to fulfill its duties in executing effective policies and initiatives that aim to achieve security and stability in the Republic of Yemen and end the Yemeni crisis. In this context, the Kingdom of Saudi Arabia announced that it has decided to provide urgent support to the Yemeni economy in the amount of $3 billion as follows: First, providing $2 billion, shared equally between Saudi Arabia and the United Arab Emirates, in support of the Yemeni Central Bank; secondly, providing $1 billion from the Kingdom, which includes $600 million for the Support Fund for the purchase of oil derivatives and $400 million for development projects and initiatives.
