Guinea land US$131M investment to bolster climate-resilient fisheries

GUINEA – Guinea has secured a substantial US$131 million funding package to invest in climate-resilient fisheries and aquaculture, in a move aimed at safeguarding coastal livelihoods and food security amid rising climate threats.

The financing was announced during a high-level meeting between Guinea’s Minister of Fisheries and Maritime Economy, 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.

Spearheading the effort is the Kounki Fisheries and Aquaculture Project, which is backed by a US$100 million loan from the World Bank’s International Development Association (IDA), 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 through the France-Guinea Debt Reduction and Development Contract (C2D).

The project aims to strengthen Guinea’s resilience to climate change by upgrading fishing infrastructure, developing aquaculture, protecting coastal ecosystems such as mangroves, and empowering women and youth in the fisheries economy.

“The Kounki Fisheries and Aquaculture Project marks a major strategic milestone in our ambition to transform Guinea’s fisheries sector,” said Minister Camara. 

“Through this substantial support from the World Bank Group and its partners, we aim to improve the livelihoods of our communities, protect our natural resources, and ensure that our fisheries contribute meaningfully to the development of our country.”

Guinea’s fisheries sector, which contributes 4.5% to the national GDP and supports nearly 7.5% of the population, faces growing risks from climate-induced sea-level rise, coastal erosion, and more frequent extreme weather events. 

These changes have already led to flooding and disrupted access to marine resources, threatening the well-being of thousands of families who rely on fishing for their livelihood.

Government figures show that marine fishing currently accounts for about 78% of the country’s annual fish production, estimated at 419,000 tonnes in 2023, while aquaculture represents only 1.4%. 

The Kounki project seeks to address this imbalance by promoting fish farming as a sustainable alternative to increasingly vulnerable marine harvests.

“We are committed to supporting Guinea on its journey towards sustainable development,” said Issa Diaw, World Bank Group Resident Representative for Guinea. 

“By investing in the resilience of fishing and aquaculture communities, we are addressing immediate challenges as well as laying the foundation for long-term economic growth and food security.”

The initiative aligns with Guinea’s national development roadmap, “Simandou 2040,” and the Fisheries Strategy (2022–2027), and will prioritise reforms to strengthen governance, enhance artisanal fisheries and aquaculture value chains, and attract private investment.

Once implemented, the Kounki project is expected to transform Guinea’s coastal economy by modernising the sector, fostering inclusion, and enhancing the country’s capacity to weather future climate shocks.

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