Yemen's economy needs about $15 billion to recover and become stable, the Planning and International Minister Mohammad Alsaadi said.
In comments to the state-run Al-Thawra newspaper, he pointed out that preparations are ongoing to hold a donor conference on Yemen in the Saudi capital Riyadh in March.
Alsaadi further made clear that Yemen is in dire needs to electricity, health assistance and oil derivatives, indicating that proposals are considering about the establishment of a financial fund to absorb the Gulf assistances.
Yemeni economists expect that the donor conference would enable the government overcome economic, political and social challenges.
As Yemen faces a number of critical development challenges, including high unemployment, diminishing oil reserves and depletion of water resource, the lately anti-regime demonstrations worsened the situations.
Gulf diplomatic sources said that The Gulf Cooperation Council states are keen to boost their assistance to the Government headed by the veteran politician, Mohammad Salem Basindowa.
They said GCC sates support the notion of setting up an international fund to sustain projects of infrastructure and services in Yemen, affirming that the United Nations, the European Union and the United States uphold this notion.
The UN envoy to Yemen Jamal Benomar had revealed that UN seeks to widen the Group of Yemen's friends, emphasizing that Yemen's donor network is still the smallest in comparison with other Arabic and African developing countries.
Meanwhile, EU high-ranking official, Hugues Mingarelli are visiting Yemen to sign two financial agreements, for a total amount of € 18 million, one aimed at promoting human rights and child protection, the other focused on sustainable employment generation.
Yemen is the poorest country in the Arab World, where nearly half of the population lives on less than $2 a day.