The Blue Economy Development Fund (ProAzul) requires $900 million to finance projects targeting the fisheries value chain, involving artisanal fishermen and small businesses.
Speaking on the sidelines of the first regular session of the Blue Economy Council, Caldas Chemane, ProAzul financial specialist, explained that work is underway to engage partners and national institutions to plan the budget necessary for activities in both the public and private sectors.
Quoted by Lusa, Chemane said that the funding will also support the “More Sustainable Fish” program, which assists the sector in the central and northern regions of Mozambique, involving artisanal fishermen and small and medium-sized enterprises (SMEs).
“The fund currently faces challenges related to high costs in implementing monitoring and difficulties in tracking violations during marine exploitation, especially by fishermen,” he added.
Meanwhile, Arnaldo Juízo, Mozambique’s Secretary of State for the Sea and Fisheries, expressed the Government’s intention to support and lead the blue economy agenda with “dedication and patriotic commitment,” calling for coordinated work between the Government and partners to make Mozambique’s blue potential sustainable.
Recently, France provided €100,000 (approximately 7 million meticais) for a platform addressing challenges related to access to water and alternative income sources for sustainable fishing, benefiting 14,786 people through the diversification of income sources in Nampula province, northern Mozambique.
Source: Diário Económico
