The Angolan government and the African Development Bank (AfDB) have announced that they have signed a deal for an artisanal fisheries support project in a bid to improve the incomes of small-scale fish processors and traders
A loan agreement for the project was recently signed by AfDB representative in Angola, Septime Martin, the AfDB revealed.
The aim of the Fisheries Sector Support Project (FSSP) will be to increase the profits of small-scale fishers and traders through improvements made in fish landing and handling facilities, according to the bank.
The FSSP will be rolled out in coastal communities in four regions across Angola and is set to benefit a fishing community of more than 10,000 at the project sites, including women who account for 80 per cent of small-scale fish processors and traders.
The scheme, which is in line with the AfDB's corporate strategy and the Government of Angola National Plan, has been estimated to cost US$39.85mn and will be implemented over the next five years, the AfDB stated.
The project comes after the roll out of the Artisanal Fisheries Development Project in Angola back in 2010.