Equatorial Guinea - Support for the Development of Value Chains in the Fisheries and Aquaculture Sector (PASPA) (AFDB-P-GQ-AAF-004)

Countries
  • Equatorial Guinea
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 10, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
GOUVERNEMENT DE GUINEE-EQUATORIALE MINISTERE DE L'ECONOMIE ET DES FINANCES
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 31.75 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported U.A 44,099,354.21
Converted using 2019-07-10 exchange rate.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 15, 2020


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Project Description

The Support Project for the Development of Value Chains in the Fisheries and Acquaculture Sector (PASPA) in Equatorial Guinea is a Country Strategy Paper (CSP) 2018-2022 implementation tool that is based on two pillars: (i) support agricultural transformation for economic diversification and (ii) strengthen capacity for public policy formulation and implementation. The project proposes to increase and enhance fish production through sustainable development of industrial fishing, artisanal fishing and aquaculture, and to strengthen the drinking water and sanitation infrastructure. It aligns with the first pillar by supporting the transformation of the fisheries and aquaculture sector in the REG. It will stimulate investment in the sector and promote the national private sector and youth employment by matching training with employment and the emergence of Micro, Small and Medium Enterprises (MSMEs) which will contribute towards improving youth employability in the sector. PASPA, which will cost EUR 69.968 million, will be implemented over a 5-year period in partnership with the ILO, particularly for the stakeholder capacity building component. The project's interventions concern all value chains (production, conservation, processing and marketing) for the three (3) sub-sectors, namely artisanal fishing (maritime and inland), industrial fishing and aquaculture. This will ultimately help improve fish supply to the domestic market, reduce imports, export to countries of the sub-region, increase incomes and improve youth employability as well as drinking water and sanitation access.

The project's overall objective is to contribute to improved food security and living conditions of the target populations by promoting value chains of the fisheries and aquaculture sector. Its specific objective is to: (i) increase and enhance fish production through sustainable development of aquaculture, artisanal fishing and industrial fishing, and (ii) strengthen drinking water infrastructure and sanitation. This will ultimately help to improve the supply of fish (fresh and smoked) to the domestic market, reduce imports, export to countries of the sub-region, increase incomes and improve youth employability as well as drinking water and sanitation access.

In terms of beneficiaries, the project aims to directly support 500 created MSMEs, 300 cooperatives and groups, and to provide targeted support to young, female and male entrepreneurs, novices and experienced alike, engaged in fisheries and aquaculture and hydraulics sectors. The bulk of the country's total population (923,393 inhabitants or 75%) is concentrated in the project area; the project beneficiaries are estimated at 80% of this population, i.e. nearly 739,000 men and women, including 277,000 direct beneficiaries. In total, more than 15,000 direct and indirect jobs will be created, including at least 70% for women and youth.

Investment Description
  • African Development Bank (AFDB)
Contact Information

LAAJILI Khaled

k.laajili@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.