Having failed to stay in power over the course of a seven-year-long civil war, Yemeni President Abdrabbuh Mansur Hadi has resigned, handing full authority to an eight-member council led by the country’s former interior minister, Rashad al-Alimi.
“I irreversibly delegate to the Presidential Leadership Council my full powers, in accordance with the constitution and the Gulf Initiative and its executive mechanism,” Yemen’s former leader declared on Thursday.
He added that the country is now entering a “transition period,” during which the Council will have to negotiate a final political solution with the Houthi rebels.
Saudi Arabia and the UAE, both major stakeholders in the Yemen conflict, have welcomed the transition of power and announced their decision to allocate $3 billion to support Yemen’s economy. Additionally, Riyadh will spend $300 million to fund the UN-initiated humanitarian response plan aiming to “alleviate the suffering of the Yemeni people.”