Yemen’s President on Wednesday signed a GCC power deal with rival parties in Riyadh. President Ali Abdullah Saleh signed an agreement, which tenders his resignation, and hands over power to deputy Abd-Rabbu Mansour Hadi. According to the agreement, Saleh would be guaranteed immunity from prosecution on stepping down from power. Hadi would be responsible for forming an opposition –led national agreement and arranging presidential elections in 60 days.

The pact was signed between Saleh, representatives of the Yemeni ruling party and the opposition coalition. The Yemeni president has previously backed out three times from signing the deal prior to this meeting. The agreement was finalized in the presence of Saudi King Abdullah bin Abdulaziz, UN envoy to Yemen Jamal bin Omar and the Gulf Cooperation Council (GCC) chief, Abdullatif al-Zayani.

Saleh has vowed that he would support the upcoming Yemeni government.

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