This picture released on in 2016 by the Italian navy shows the shipwreck of an overcrowded boat of migrants off the Libyan coast. (Marina Militare/AFP/Getty Images)

Nearly 40 migrants from Ethiopia including children perished and five others are missing after a ferry capsized off the coast of Djibouti early this week, the UN migration agency said.

The International Organization for Migration said the tragic incident happened on Monday, 8th April – 200 meters from shore in Godoria, near the Djiboutian coastal town of Obock.

The boat carrying 66 migrants left Yemen for Djibouti early in the morning and the 23 migrants who survived the incident told IOM the vessel was heavily overloaded before water began flooding in, causing it to overturn.

It is believed the migrants were trying to return from Yemen to Djibouti after failing to reach the Kingdom of Saudi Arabia.

“This is among the deadliest shipwrecks recorded in Djibouti. This migration corridor is among the busiest and most dangerous in Africa,” says Tanja Pacifico, Chief of Mission, IOM Djibouti in a statement published on the organization’s website.

“…Yet it receives very limited attention and funding, while the numbers keep increasing. More support is needed to prevent the loss of life and support countries like Djibouti.”

The IOM said its staff in Djibouti arrived at the scene to support the search and rescue operations by providing basic assistance to the survivors, as well as referrals to the hospital in Obock.

Every year, tens of thousands of migrants from the Horn of Africa, in particular Ethiopia and Somalia, leave the continent, via Djibouti, in the hope of reaching the Saudi and the Gulf nations to find work.

The agency however said many are unsuccessful, and thousands are stranded in Yemen where they experience extremely harsh conditions.