IFAD has granted a US$21.1 million loan for the Artisanal Fisheries Promotion Project enhance artisanal fisheries and increase the incomes of poor rural households in fishing communities in Mozambique.
24 March 2011: The International Fund for Agricultural Development (IFAD) has granted a US$21.1 million loan to the Republic of Mozambique to enhance artisanal fisheries and increase the incomes of poor rural households in fishing communities.
The loan agreement for the Artisanal Fisheries Promotion Project was signed on 24 March 2011, in Rome, Italy, by Carla Elisa Mucavi, Ambassador and Permanent Representative of the Republic of Mozambique to IFAD, and Kanayo F. Nwanze, President of IFAD. The Artisanal Fisheries Promotion Project will encourage artisanal fishers to diversify their operations into offshore waters by providing incentives to reduce fishing in inshore waters. It will also will raise the incomes of poor fishing households by bringing a sustainable increase in returns from fish sales for artisanal fishers and small market operators. [IFAD Press Release]