International Fund for Agricultural Development grants loan to support artisanal fishing in Mozambique

28 March 2011

Rome, Italy, 28 March – The International Fund for Agriculture and Development (IFAD) is to provide a US$21.1 million loan to Mozambique to support artisanal fishing and the income of families in fishing communities, under the terms of an agreement signed Friday in Rome.

In a statement IFAD noted that the waters off the coast in many areas of Mozambique were being depleted of fish die to the use of fishing techniques such as large nets that are able to catch the entire shoal, which was reducing not only the fish but also fishermen’s incomes.

The aim of the Project to Promote Artisanal Fishing is to persuade fishermen to go to deeper waters and to diversify the areas in which they work, which according to IFAD will increase fishermen’s income and provide incentives for them to stop fishing in waters that are too close to the coastline.

IFAD said that this project would directly benefit 40,000 families that depended on fishing and fishing products and a further 40,000 families that indirectly depend on it.

This project increases the support provide by IFAD to artisanal fishing in Mozambique to US$45 million. Overall in Mozambique it has provided US$196.2 million. (macauhub)