The African Development Bank (AfDB) has announced it is doling out a EUR 24.6 million (USD 25.9 million) loan to the West African nation of Cote d’Ivoire in order to spur growth within its fisheries and aquaculture industries.
The bank’s board of directors approved the loan in late 2024 specifically to support the goals outlined in Cote d’Ivoire’s 2022-2026 National Policy for the Development of Livestock, Fisheries, and Aquaculture (PONADEPA). Though the policy entered into force three years ago, the country’s fisheries and aquaculture industries have struggled to achieve consistent growth.
Cote d’Ivoire’s annual seafood production totaled 92,000 metric tons (MT) in 2023, marking a decline from its all-time high of 106,000 MT in 2018, according to government reports.
The bank’s loan will go toward carrying out PONADEPA objectives and helping ensure they actually come to fruition – though most likely later than the timeline outlined in the policy. The funds will be available to the country through 2029.
“The bank's involvement in this project will facilitate the establishment of aquaculture- and fisheries-related infrastructure, improve skills within the fisheries sector, contribute to improved governance of sea, lagoon, and inland fisheries, and promote the development of commercial aquaculture through training and the implementation of a reliable system for the production of high-quality fry and feed,” AfDB Deputy Director General for West Africa Joseph Ribeiro said.
Additionally, funding will go toward public and private seafood entrepreneurs in the villages of Loka, Dompleu, and Jackueville in an effort to improve their fishing equipment and increase their ability to catch higher-quality seafood suitable for both local and international markets...
