IFAD Boosts Yemen Coffee, Fishing Industries

The International Fund for Agricultural Development has earmarked USD70 million to support the coffee and fishing industry in Yemen in 2010. IFAD is expected to provide USD40 million to an economic opportunities program that seeks to improve Yemen’s coffee industry by helping enlarge its cultivation areas and introduce the product to more foreign markets. This project, which is also supported by the European Union and the Islamic Development Bank, will be launched in June.

Meanwhile, IFAD will provide USD30 million for a separate project that aims to develop Yemen’s fishing industries by training local fishermen and providing them with boats and better fishing equipment. The project will also assist fishermen in exporting their products.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.