Gulf states pledged $3 billion to Yemen after the country’s president handed over powers to a transitional council, the latest effort by Saudi Arabia and its allies to disentangle themselves from a conflict that has hit their vital oil facilities.
Saudi Arabia and the United Arab Emirates will each provide $1 billion to Yemen’s central bank; with Saudi Arabia also giving $1 billion for the purchase of oil products and to support development projects.
Saudi Arabia also said it will provide $300 million to the UN humanitarian program in Yemen.