The African Development Bank (ADB) in 2013 approved a new project to support the development of artisanal fishing budgeted at about US$40 million, the bank’s chief economist in Angola said Wednesday in Luanda.
During a technical meeting between the Ministry of Fisheries and Angolan and foreign partners for the development of the project, Joelmo Mzima said the ADB would grant a loan of US$30 million, with the remaining US$10 million directly funded by the Angolan central government.
This project, which is expected to start running in 2019, aims to reduce post-fishing losses of fish products by around 30 percent, by introducing modern maritime surveillance systems in several coastal regions of Angola, according to Angolan news agency Angop.
Mzima said the project includes a technical partnership with the United Nations Food and Agriculture Organization (FAO),, for control, management and fisheries monitoring and is at present finalising administrative procedures for setting up the partnership.
Since 1980 the African Development Bank has approved about 38 projects for Angola estimated at over US$1.5 billion. (macauhub/AO)