US$ 12.6 million IFAD grant for Eritrean Fisheries sector

 

Invest in Eritrea - IFADRome, 14 September 2010 – The International Fund for Agricultural Development (IFAD) is supporting a grant in Eritrea with the goal of raising production and productivity in the fisheries sector, while conserving fish stocks and the marine ecosystem.

This grant agreement for the Fisheries Development Project of US$12.6 million was signed today at IFAD headquarters in Rome by Zemede Tekle Woldetatios, Ambassador of Eritrea and Kanayo F. Nwanze, President of IFAD.

IFAD’s supported project aims to strengthen the artisanal fisheries sector and ensure sustainable resource management, this will contribute to reducing poverty by increasing the fishery sector’s contribution to the national economy, as well as improving food security in the region.

SOURCE: THE INTERNATIONAL FUND FOR AGRICULTURAL DEVELOPMENT (IFAD)

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