Top Stories World Bank approves $41 million financing for fisheries in Yemen

World Bank approves $41 million financing for fisheries in Yemen





The World Bank has approved financing the Sustainable Development Program for Fisheries in the Red Sea and Gulf of Aden with a grant of $41.15 million.

The Minister of Planning, Waed Badeeb, said that funding the program came after unremitting efforts made by his ministry in mobilizing resources and enhancing cooperation with international donors.

In a statement to Saba Agency, he indicated that the funding will be through the United Nations Development Program in addition to the grant of the Regional Authority for the Preservation of the Environment of the Red Sea and Gulf of Aden in the amount of $3.85 million.

Pointing out that this project is the first operation of a series of projects aimed at strengthening regional cooperation for the sustainable management of fisheries in the Red Sea and Gulf of Aden region and enhancing the effective production of fisheries and the value chain in the countries of the Red Sea and Gulf of Aden region.

The project consists of three axes that include strengthening regional cooperation in the management of marine fisheries and aquaculture in the Red Sea and Gulf of Aden region, improving economic opportunities, food security and effective management of fisheries production in Yemen, and project management and knowledge management.

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