The International Fund for Agricultural Development (IFAD) has announced support for a new project to reduce poverty and increase production and incomes for more than 88,000 rural small-scale fish farmers through aquaculture.
Mozambique’s climatic conditions are favourable to the development of aquaculture. The country is home to a wide variety of fish, which can be farmed and thus help to address the country’s nutritional challenges, as well as providing exports for regional markets. Aquaculture development in the country has been challenging due to the lack of access to inputs such as fish feed, seeds and financial services.
The financing agreement for the Small-scale Aquaculture Development Project (PRODAPE) was signed today by Donal Brown, Associate Vice-President of the IFAD, Programme Management Department, and Victor Gomes, Vice-Governor of the Bank of Mozambique.
This US$49 million project aims to move the aquaculture sector from a subsistence basis to a commercial level, underpinned by the involvement of small-scale farmers, particularly women and unemployed young people ready to embrace “aquapreneurship.” The project will contribute to livelihood development, food security and resilience, all of which are critical for Mozambique in achieving several Sustainable Development Goals, including no poverty, zero hunger, gender equality and life below water (SDGs 1, 2, 5 and 14).
Funding includes an $8.6 million loan and $34.4 million grant from IFAD. In addition, the Government of Mozambique is providing $3.1 million, with a further $2.9 million contributed by beneficiaries themselves.