Project

Fish Value Chain Development Programme (FIVAC)

Sector

Rural development

Financing chart
Financing Gap (USD)
5,000,000
Target group
18,320
Households
Project target area

Eritrea's six zobas and 51 sub-zobas

 
Summary
Fish Value Chain Development Programme (FIVAC) goal is to improve food security, nutrition and reduce poverty by promoting better and sustainable production of marine and inland fish, and effective marketing of this increased production. The Development Objective is to improve the livelihood and resilience of beneficiaries and their communities by developing climate resilient VCs by the use of solar energy and low energy consumption equipment and nutrition-sensitive VCs.
Components and Objectives
FIVAC has three components:
Component1: Develop sustainable fisheries system. Fish production will be increased sustainably for local producers in coastal and inland zones, through provision of appropriate gear, equipment and improved transport systems, plus support for improved effective fisheries resources management.
Component2: Develop post-harvest and marketing systems. This component will enhance sale of fish from marine producers in main local and export markets, and fish from inland dams to be distributed and sold in rural inland communities, thus enhancing local nutrition.
Component3: Strengthen policy, institutional and Programme implementation capacity. This component will strengthen the programme management bodies’ capacity at national and Zoba levels to accomplish the implementation in a timely and transparent manner in accordance with IFAD guidelines.
Financing

Total project cost

34,280,420

IFAD financing
 

43.8 %
15,000,000
15,000,000
Debt Sustainability Framework

International cofinancing

26.1 %
8,932,420
8,932,420
GEF-Least Developed Countries Fund

National cofinancing

15.6 %
5,348,000
5,348,000
National Government

Financing
gap

14.6 %
5,000,000

Approval date

Expected to be approved in 2024

Expected duration

2024 –
2031

Lending terms

Debt Sustainability Framework

Income level

Low Income

Replenishment cycle

IFAD 12

Implementing agency

Ministry of Marine Resources (MMR)

Contact information

Country Director: 
Caroline 
Mwongera 
Email: c.mwongera@ifad.org