AfDB approves $13.2m sustainable fisheries, aquaculture development in Malawi

Japan, Liberia sign agreement to boost the local fishing industry
October 14, 2019
Mantrac launches energy system to complement grid in Ghana
October 14, 2019
Show all

AfDB approves $13.2m sustainable fisheries, aquaculture development in Malawi

A total of $13.2 million has been approved by the African Development Bank for a fisheries and aquaculture development project in Malawi.

The project is expected to benefit 20,000 residents around the surrounding lakeshore and inland areas and will provide the necessary infrastructure for increased fisheries productivity. It will also provide market access. Generally, the project will boost employment along the fish value chain and build climate resilience along major watersheds.

The project is estimated to cost $14.57 million. The AfDB will be providing a loan of $8.98 million and a grant of $4.21 million, while the Malawi government will contribute $1.38 million.


The project will hugely benefit 250,000 fish processors, vendors, retailers, and interns.

It is expected to cover 11 lakeshore and three non-lakeshore districts. This includes the basins of Lake Malawi and Chilwa, as well as part of the Shire River system. It will also cover selected upland areas.

“The bank is committed to supporting our regional member countries to make use of their living fisheries resources,” Dr. Ahmed Khan the AfDB’s blue economy flagship coordinator said.

“This is crucial for building healthy diets and local consumption, facilitating regional trade and improving on the quality of life – especially for youth and women along the fish value chain.”

Culled from www.foodbusinessafrica.com

Comments are closed.