AfDB Provides CFAF 13 Billion to Help Modernize Gabon’s Fisheries Sector

The AfDB recently handed CFAF 13 billion worth of equipment to Gabon’s fisheries and aquaculture directorate aimed at modernizing the sector.

The package is the first tranche of equipment estimated at CFAF 13 billion that the AfDB has to offer to the directorate of fisheries and aquaculture as part of the AfDB’s support project to the fisheries and aquaculture sector (PSPA).

The materials were handed over by the GAFO resident representative, Boubacar S. Traore. The next delivery is expected to take place in December 2010, and will comprise 15 vehicles, 32 all-terrain motorbikes, 9 speed boats, laboratory equipment and office furniture. PSPA’s implementation has been scheduled for December 31, 2011.

This implies that the high implementation rate will reach 40% at the end of 2010 as against an average 25%, to date.

The project’s implementation is expected to enable the fisheries and aquaculture sector to contribute over 4% to the GDP as against the current 1.5%.

The PSPA is expected to bring benefits to some 21,500 players in the sector, 56% of whom are women and it is expected to have a real impact on some 55,800 youths.

The project covers all the country’s 9 provinces and is expected to improve living conditions for some 8,300 fishermen.

This article was originally posted on Southern Africa Business Communities