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Monday, 01 June 2015

EU-Angola: support for fisheries

The European Union has approved 190 million in funds for fisheries projects in Angola, to be disbursed up until 2020. This commitment is consistent with the policies and commitments made by Angola in the area of the Millennium Development Goals. The United Nations Food and Agriculture Organisation (FAO) has also announced support for cooperation agreements in the 2013/2017 period targeting aquaculture, fishing conservation and sale projects. Chief economist of the African Development Bank (AfDB) in Angola Mamadou Diallo said the results achieved to date had encouraged the FAO to increase support for another ten projects funded for the 2016/2017 period by providing US$11 million. In turn, AfDB also approved a new project to support the development of artisanal fisheries, estimated to cost about US$40 million. The ADB is expected to grant a loan of US$30 million for the project, with the remaining US$10 million guaranteed by the Angolan central government.