Fisheries, aquaculture project in Malawi gets $13.2mn from AfDB

The fisheries and aquaculture development project in Malawi has received an approval to receive USD 13.2 million financing package from the African Development Bank Group’s African Development Fund.

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 October 2, 2019. The project is likely 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 USD 14.57 million, comprising an ADF loan of USD 8.98 million, a grant of USD 4.21 million. The government of Malawi will contribute USD 1.38 million. The project in Malawi is likely to directly benefit 20,000 residents around the surrounding lakeshore and inland areas including 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. 75 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.