On November 6, 2024, the Board of Directors of the African Development Bank approved a loan of 24.63 million euros to Ivory Coast. This funding aims to strengthen the development of value chains in fishing and aquaculture, helping to boost the sector’s contribution to the local and national blue economy in the country. The initiative will benefit approximately 700,000 people.
The Bank’s involvement in this project will facilitate the establishment of aquaculture and fishing infrastructure, develop skills in the fishing sector, improve governance of maritime, lagoon, and continental fisheries, and promote the development of commercial aquaculture through training and implementing a reliable system for producing quality fry and feed, » said Joseph Ribeiro, Deputy Director-General of the African Development Bank for West Africa.
Fishing activities in coastal cities such as Sassandra will be boosted by this new project. The Competitive Aquaculture and Fisheries Value Chain Development Project consists of four components, including the development of higher education programs and incubation for startups and social entrepreneurship. It will also implement integrated and participatory management plans for marine, lagoon, and continental fisheries, with a focus on commercial artisanal species. Additionally, the project aims to improve fish fry quality, quantity, and availability, and create a manual for certification by an independent agency.
The project will be implemented in three main areas of Ivory Coast: the maritime front, including the cities of Abidjan, Jacqueville, and Assinie in the south, and the departments of San Pedro, Tabou, Grand Béréby, and Sassandra in the southwest. It will also cover continental rivers, lowlands, artesian wells, and floodplains in the central region (departments of Man, Bouaké, Toumodi, Yamoussoukro, Soubré, Béoumi), as well as the Kossou and Buyo reservoir lakes.
At least 700,000 people will benefit directly or indirectly from the program, which will run over five years (2025–2029). The project is funded by a preparatory project fund that financed feasibility studies, environmental and social safeguards, the improvement of the institutional framework for blue economy governance, and an investment plan for the blue economy sectors.
Ivory Coast is a key partner country of the African Development Bank Group. As of March 31, 2024, the Bank’s active portfolio in the country included 43 operations with financial commitments exceeding three billion euros.
Source: afdb
