Guinea secures US$131M to fund to invest in its fisheries sector
The Kounki Project targets infrastructure upgrades, aquaculture expansion, and economic inclusion amid rising climate threats.
GUINEA – Guinea is receiving nearly US$131 million from several international development partners to support a new project aimed at increasing climate resilience in its fisheries and aquaculture industries.
The funding package was unveiled during discussions held between Guinea’s Fisheries Minister Fatima Camara and Axel van Trotsenburg, Senior Managing Director of the World Bank, on the sidelines of the third United Nations Ocean Conference (UNOC3) in Nice, France.
The financing includes a US$100 million loan from the World Bank’s International Development Association (IDA), alongside US$21.4 million from the French Development Agency (AFD), a US$5 million grant from the World Bank’s PROBLUE fund, and US$4.5 million from the France-Guinea Debt Reduction and Development Contract (C2D).
The initiative, known as the Kounki Project, aims to reduce climate-related risks in Guinea’s fisheries through various measures, including upgrading fishing ports, improving market and cold chain infrastructure, and protecting mangrove ecosystems along the coast.
Authorities also intend to launch programs that will expand opportunities for women and young people in the fisheries economy, while encouraging aquaculture as an alternative to marine fishing, which is increasingly vulnerable to climate impacts.
According to the World Bank, Guinea is among the countries most affected by rising sea levels and more frequent extreme weather events, which have led to increased coastal erosion and flooding.
These challenges are making it harder for fishing communities to access marine resources, placing additional pressure on livelihoods and food security for thousands of families.
Government data shows that Guinea produced around 419,000 tonnes of fish in 2023, with the majority—approximately 78%—coming from marine sources, 18% from inland water bodies, and only 1.4% from aquaculture.
This imbalance highlights the potential for growth in fish farming, which could help reduce dependence on marine ecosystems that are under threat from environmental changes.
The fisheries and aquaculture sector contributes about 4.5% to Guinea’s gross domestic product and supports the livelihoods of around 7.5% of the population, making adaptation to climate change an urgent priority.
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