The Blue Economy Development Fund (ProAzul – FP) and the German Cooperation (GIZ) have signed a Memorandum of Understanding and the respective Action Plan that guarantees financing of 450 million meticais (USD$7 million) to boost the sustainable development of the Mozambique Blue Economy.
The main objectives of the partnership include activating the Blue Economy Observatory, the Blue Economy Council, strengthening financial mechanisms and strengthening ProAzul’s communication and institutional capacity.
The Blue Economy Development Fund is a government financial mechanism that works in partnership with different sectors of the state, the private sector and civil society to align strategic and financial resources with effective initiatives for the sustainable use of inland waters, the sea and the coastline.
Its main activities include the financial and strategic management of projects, the design of financial mechanisms and studies of new sources of resources, in addition to technical assistance to the Government of Mozambique in the development of the Blue Economy.
For example, current projects include gender equality and parity projects and a sustainable fising project that aims to stimulate the diversification of artisanal fishermen’s livelihoods, reduce pressure on marine resources, and improve the business environment by ensuring greater investment, productivity, and diversification of private sector activities at sea.
GIZ is a federal German enterprise with more than 50 years’ experience in international cooperation. It promotes economic development and employment, is committed to supporting energy and the environment, and works for peace and security, particularly in fragile contexts.
