IFAD to support Yemen with N6.6b

The International Fund for Agricultural Development (IFAD) has promised to support agriculture and rural development in Yemen with the sum of $41 million, about N6.61 billion.

IFAD made the pledge after a two-day meeting held in Saudi Arabia, according to a press statement made available to NaijaAgroNet by Jessica Thomas from IFAD.

The $41 million pledge is made up of $31 million from IFAD’s core resources and $10 million from the Adaptation for Smallholder Agriculture Programme (ASAP), a new financing instrument established by IFAD to scale up and integrate climate change adaptation in smallholder development projects.

The meeting was developed by Yemen’s Government of National Reconciliation with support from the European Union (EU), Islamic Development Bank (IsDB), World Bank (WB) and United Nations organisations and IFAD.

Also, the meeting attracted over 280 participants from 27 donor countries, 36 regional development international financial institutions, and observers from NGOs as well as private sector.

The money pledge according to IFAD is for Yemen government to develop new projects during the transition period.

NaijaAgroNet recalls that IFAD commenced operations in Yemen since 1979 which has seen to the enhancement of rural economic growth through the support given to national programmes in the agriculture and fisheries sectors.

Yinka Awosanya/LS

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FG to transform agriculture sector to employ youths

President Goodluck Jonathan

The Federal Government (FG) of Nigeria has promised to transform the agricultural sector so as to make the sector a wealth creator and able to accommodate youths.

President Goodluck Ebele Jonathan revealed that the present administration is keen on bringing its plans about transforming the agricultural sector to reality.

The president also affirmed the federal government's initiative to promote the subsistence farming to the establishment of agriculture as a very viable modern-day business.

“We have a very large youthful population and to create enough jobs for them we must develop agriculture, solid minerals and other sectors," President Jonathan said, adding that Nigeria has a lot of untapped potentials which would be beneficial to agricultural development.

He expressed delight over the $74 million about N11.7 billion virtually interest-free loan by the International Fund for Agricultural Development (IFAD) in a bid to support the federal government's agricultural programme.

He said Nigeria as well as himself is proud of the good work by IFAD with loans and grants summing up to $225 million for agricultural development in Nigeria since 1985.

 Yinka Awosanya

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