Minister of Fisheries Signs Financing Agreement With KFW

On 7 June, in Nouakchott, Mr. Mohamed Ould Abidine Ould Mayif, the Minister of Fisheries and Maritime Economy, signed with a delegation from the German Development Bank (KFW) led by Ms. Andrea Moser, currently visiting Mauritania, a financing agreement for the project for the development of value chains and the creation of job opportunities in the artisanal fishing sector in Mauritania.

This financial donation amounts to 19 million euros, of which 12 will be destined for financing artisanal fishing projects and disbursed through local banks as intermediaries between the German bank and the beneficiaries. The rest of the funding will be reserved for the training of human resources to develop value chains through a technical assistance office that the German side will send to help the project build expertise and skills in developing value-added chains in the artisanal fishing sector.

The signing ceremony was an opportunity for the Minister of Fisheries and Maritime Economy to thank the German government for this generous support related to development of value chains and the creation of fishing job opportunities.

He also thanked the German Development Bank for this effort which will contribute to the continuity of production and the development of Mauritanian marine resources and increase their use in the field of employment and the reduction of unemployment.

He indicated that the start of the financing of this project is part of the commitments of His Excellency Mr. Mohamed Ould Cheikh El-Ghazouani, the President of the Republic, relating to the establishment of a line of financing to promote artisanal fishing products in Mauritania.