The African Development Bank Group’s funding will support Malawi’s National Fisheries and Aquaculture Policy, its Growth and Development Strategy (MGDS III) and Malawi’s Vision 2020
Image: AfDB’s loan is expected to help support fisheries in the region. Photo: Courtesy of African Development Bank.
The African Development Bank Group (AfDB) has agreed to provide funding of $13.2m to support a sustainable fisheries, aquaculture development and watershed management project in Malawi.
The funding will be provided from the African Development Fund (ADF). The Sustainable Fisheries, Aquaculture Development, and Watershed Management project is expected to provide infrastructure to increase the productivity and market access of fisheries.
The project is expected to contribute to nutritious diets, boost employment along the fish value chain and build climate resilience along major watersheds.
The estimated cost of the project is $14.57m, which includes an ADF loan of $8.98m and a grant of $4.21m. The Malawi government will contribute $1.38m.
The project 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.
Around 75% of the transboundary watersheds are in Malawi, which are claimed to be critical fish breeding and nursery grounds.
Nearly 20,000 residents in the surrounding lakeshore and inland areas, along with 250,000 fish processors, vendors, retailers and interns, several of whom are youth and women along the value chain, are expected to benefit from the project.
Other benefits include sustained income from fisheries, increased recovery of Chambo stocks and higher incomes from value addition, including processing, storage and related marketing activities.
The project is expected to improve nutrition level in Malawi
Increased fish protein consumption in the region could improve the nutrition level in the region.
The African Development Bank blue economy flagship coordinator Ahmed Khan said: “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.”
The funding from AfDB is expected to help promote Malawi’s national development as outlined by the country’s National Fisheries and Aquaculture Policy, its Growth and Development Strategy (MGDS III) and Malawi’s Vision 2020.