Kenya announces USD 98 million in new financing for fisheries sector
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Kenya has announced KES 10.7 billion (USD 98 million, EUR 83 million) in new financing to revamp the country’s fish production levels and improve seafood exports over the next year.
Treasury Cabinet Secretry Ukur Yatani has indicated in his 2021/2022 Budget Statement that the projects targeted in the new funding allocation include the Aquaculture Business Development and the Kenya Fisheries and Socio-Economic Development projects, which are being co-financed by the International Fund for Agricultural Development (IFAD) and International Development Association (IDA), respectively.
Yatani said the 2021/2022 fisheries sector allocation targets at least eight different fisheries projects the government considers critical in scaling up exports and raising incomes of fishing communities.