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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