For Immediate Release
Monday, July 20, 2020
The U.S. Agency for International Development (USAID) today announced the award of a $27.4 million activity to support Yemen’s economic recovery.
The three-year Economic Recovery and Livelihoods Program will strengthen key institutions in Yemen to improve economic growth and stability, and raise household income by supporting small and medium-sized enterprises and improving the agricultural and fisheries sectors.
“While Yemen faces significant economic challenges after years of conflict, its industry and workforce are resilient,” said USAID/Yemen Acting Senior Development Advisor Cybill Sigler. “The United States is proud to partner with Yemen to help stabilize Yemen’s economy, increase trade flows, and create jobs.”
The program will build the capacity of key Republic of Yemen Government institutions – including the Central Bank of Yemen, Ministry of Finance, Yemen Customs Authority, and port authorities. These strengthened institutions will improve public budget management and increase international trade flows, enabling more humanitarian goods to reach vulnerable populations in Yemen.
Moreover, fisherfolk, farmers, and enterprises with increased access to local and international markets, financial resources, and a qualified workforce can improve the quality of their products, reduce production costs, and raise incomes. Fishing is Yemen’s second-largest industry after oil and stands to generate much-needed foreign exchange. Most importantly, it gives coastal fisherfolk and processing firms opportunities to create value through entrepreneurial endeavors that are insulated from inland wars.
The Pragma Corporation will implement the program.
The United States government, through the U.S. Agency for International Development (USAID), partners with the people of Yemen to build a strong foundation for durable peace, conflict prevention, and addressing humanitarian needs. For more information, visit: https://www.usaid.gov/yemen.