To finance the African Development Fund (AfDB) for a fisheries and aquaculture development project in the country.

On 2 October 2019, the AfDB board approval for the project was granted to fund the project is aimed at contributing to nutritious diets, boost employment along the fish value chain, and build climate resilience along major watersheds.

Fishermen bemoaned the scarcity of fish in the Lake Malawi, a misfortune that has come amidst, also leading to, price increase of the fish. Speaking in Lilongwe at the start of a two-day forum on the ‘Role of Ecosystem-based Fisheries Management (EBFM)’, Director of Animal Health and Livestock Development in the Ministry of Agriculture, Patrick Chikungwa stated that there was a decline in fish, also confirmed by Department of Fisheries director Friday Njaya.

However, fish profits pushed up by 11%, as the 2019 Annual Economic Report shows that in 2018, fish landings had a beach or landed value of K196.69 billion ($273.18 million), with a volume of 221 849.08 metric tonnes (MT) compared to the K173.04 billion ($235.74 million) realised the previous year from the sale of 199 454 MT.

The fisheries and aquaculture development project is estimated to cost $14.57 million, comprising an ADF loan of $8.98 million, a grant of $4.21 million. The Malawi government will contribute $1.38 million.