Yemen and the International Fund for Agricultural Development (IFAD) signed on Monday a memorandum of understanding worth of $11 million. Under the memorandum, IFAD provides $11 million to contribute to financing a project of local community development in coastal areas. The memorandum was signed by Yemeni Minister of Planning and International Cooperation Mohammad al-Sa'adi and IFAD Resident Representative in Yemen Fathya Bahran.