Benin - PROMAC-Project to promote Aquaculture and the competitiveness of fisheries value chains — Benin

Overview

This intervention concerns the Project for the Promotion of Aquaculture and the Competitiveness of Fisheries Value Chains (PROMAC). It aims to help increase the contribution of the fisheries and aquaculture sector to local and national economies and to food security by promoting aquaculture, fisheries governance and improving the added value of fish. PROMAC’s activities are aimed at developing agricultural value chains and the agroindustry in economically and socially disadvantaged areas with significant fishing and aquaculture potential, in particular by supporting target groups, managing fisheries resources and developing infrastructure to support production, processing and access to basic services. This project will consolidate the Bank's position as a key player in a sector where the majority of workers are women. Similarly, this support remains crucial in a context marked by the consequences of the COVID-19 pandemic and Russia's1 invasion of Ukraine, which are helping to exacerbate the security, food, nutritional and social conditions of the population. PROMAC is structured around the following four components: (i) development of competitive and climate-resilient fish farming; (ii) development of commercial value chains and sustainable fisheries management; (iii) promotion of social and ecological resilience in fragile blue economy systems, and (iv) project management and coordination. The project contributes to climate finance, with 17 million USD of the total approved amount dedicated to adaptation.