Abidjan, Cote d’Ivoire – November 7, 2024: The fisheries and aquaculture sector in Côte d’Ivoire is set to benefit from substantial financial backing from the African Development Bank over the period 2025-2029.
The Board of Directors of the African Development Bank Group approved a loan of €24.63 million to Côte d’Ivoire to boost the development of fisheries and aquaculture value chains. This funding will enable the country, which has been undergoing rapid growth, to increase the sector’s contribution to the blue economy, both nationally and locally.
Courtesy of this new project, fishing activities in coastal towns such as Sassandra will be able to expand significantly. In addition, the project plans to improve fishing methods by supporting public and private fish farms in the west and south of the country.
This initiative aligns strongly with the CAAPs agenda, as it prioritizes sustainable economic growth, infrastructure development, job creation, and enhanced local and national value chains within Africa’s natural resource sectors.
Through these shared goals, the projects support Africa’s ambition to harness its natural resources for sustainable growth, laying the groundwork for a more resilient and prosperous continent.
Source and full report: afdb.org
ABOUT The CAAPs
The Common African Agro-Parks Programme (CAAPs) was initiated in 2019 as one of the concrete initiatives of the Comprehensive African Agricultural Programme (CAADP) to be implemented within the framework of the African Union (AU) Agenda 2063 in order to achieve the CAADP Malabo commitments, particularly the commitment to “triple intra-African trade in agricultural commodities and services.”
For more information, kindly visit www.faraafrica.org/caaps, join the #CAAPs Community of Practice via https://faraafrica.community/caaps/join or contact #CAAPs Coordinator Anselme Vodounhessi [email protected]
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