The African Development Bank Group (www.AfDB.org) has approved a
$13.2 million financing package from the African Development Fund for a
fisheries and aquaculture development project in Malawi. The Sustainable
Fisheries, Aquaculture Development, and Watershed Management project
will provide infrastructure for increased fisheries productivity and
market access. Board approval for the project was granted on 2 October
2019. The project is expected to contribute to nutritious diets, boost
employment along the fish value chain, and build climate resilience
along major watersheds.
The project’s estimated cost is $14.57 million, comprising an ADF loan of $8.98 million, a grant of $4.21 million. The Malawi government will contribute $1.38 million.
The project is expected to directly benefit 20,000 residents around
the surrounding lakeshore and inland areas, as well as 250,000 fish
processors, vendors, retailers, and interns, many of whom are youth and
women along the value chain.
The project interventions will cover 11 lakeshore and three
non-lakeshore districts, including the entire basins of Lake Malawi and
Chilwa, part of the Shire River system, and selected upland areas using
an ecosystem approach. Seventy-five percent of transboundary watersheds
are in Malawi and they are critical fish breeding and nursery grounds.
Other expected benefits include sustained income from fisheries;
increased recovery of Chambo stocks and higher incomes from value
addition (processing, storage and related marketing activities). The
increased access to fish protein consumption at the household level will
improve nutrition in the region.
“The Bank is committed to supporting our regional member countries to
make use of their living fisheries resources. 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,” said the Bank’s Blue Economy Flagship
Coordinator, Dr. Ahmed Khan.
The approved resources will promote Malawi’s national development as
outlined in its Malawi National Fisheries and Aquaculture Policy, its
Growth and Development Strategy (MGDS III) and Malawi’s Vision 2020.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact:
Amba Mpoke-Bigg
Communication and External Relations Department African Development Bank
email: a.mpoke-bigg@afdb.org
Source: https://www.africanews.com/2019/10/09/malawi-the-african-development-bank-approves-132-million-for-sustainable-fisheries-aquaculture-development-and-watershed-management/
