Saudi Arabia will give $3.25 billion to support development projects in Yemen, AFP reported the Saudi minister of foreign affairs saying Wednesday (May 23rd).

"There will also be financing and guarantees for Saudi exports and a deposit in the Central Bank of Yemen," minister Saud al-Faisal told participants at the opening of Friends of Yemen meeting in Riyadh.

About 30 countries and humanitarian organisations, including the Gulf Co-operation Council, European Union countries and United Nations organisations, are taking part in the conference.

The UN appeal for emergency humanitarian assistance to Yemen has to date received only 43% of the required funds, leaving a deficit of $262 million, seven humanitarian organisations -- including Oxfam, CARE and Save the Children -- said in a joint statement released ahead of the conference.

They warned that Yemen is on the brink of "a catastrophic food crisis" and that about 44% of the total population does not have enough food.