45 MILLION DOLLARS TO BE INVESTED IN FISHING PROJECT

The Ministry of Fishing is preparing to launch later this year an artisanal fishing project, ProPESCA, budgeted at 45 million US dollars, which will cover the country’s entire coastline.Technicians from the Institute for the Development of Small Scale Fishing have begun to travel to all the provinces to close the previous project and advance ideas in relation to the new project.The cost of this project, which is to last seven years, will come from the International Fund for Agricultural Development (IFAD) and the Mozambican state and could be expanded if the government finds new sources of finance.The Director of Fishing in Sofala province, Joao Duarte, told the daily newspaper “Noticias” that the new project is going to concentrate on poles of development along the coast.“With a new approach, ProPESCA will concentrate all its attention on the commercialisation of fishing, the use of refrigeration to conserve the catch, and the promotion of artisanal fishing further out from the coast”, said Duarte.The previous Artisanal Fishing Project of the Sofala Bank ended in March after more than eight years. It formed an integrated project with a strong social component that included the construction and rehabilitation of tertiary roads, health centres and schools, food and water supply, and other basic infrastructure.The new project will cover a total of 26 growth poles, with the potential for the project to be expanded and intensified.IFAD claims that the project will directly benefit over 40,000 vulnerable rural households for whom fishing and fish products are the principal source of livelihood and often the only source of cash income, while a further 40,000 households will receive indirect benefits. IFAD will provide a 21 million dollar loan for the project, bringing its total investment in Mozambican artisanal fishing to 45 million dollars. In all spheres of activity, IFAD has now invested 196.2 million dollars in Mozambique.The Belgian Fund for Food Security is considering giving a contribution of about 5.5 million euros to the project. Other co-financers, including the Spanish Trust Fund, are expected to provide a further 10.9 million dollars.The Mozambican government is to spend 1.1 million dollars on the project, and a further 3.3 million will come from beneficiaries and financial institutions.