Maputo — The Bank of Mozambique signed on Wednesday with the French Development Agency (AFD) a financing agreement under which the French government is to grant 1.5 million euros (2.1 million US dollars) to Mozambique to support the development of aquaculture to cultivate prawns, reports Thursday's issue of the Maputo daily "Noticias'.

The project, aimed at guaranteeing sustainability and the international competitiveness of the country's farmed prawns, will involve the major stakeholders in the sector, namely the National Aquaculture Development Institute (INAQUA), the National Fisheries Products Inspection Institute (INIP), and also the private sector, through the Mozambique Prawn Producers Association (APCM).

Speaking at the signing ceremony, the Governor of the Bank of Mozambique, Ernesto Gove, said the agreement is of great importance for the fisheries sector, since it will encourage production of one of the country's most important export products.

"This funding is part of the Trade Capacity Strengthening Programme designed by the French Economy, Industry and Employment Ministry and by the AFD, aimed at supporting the insertion of developing countries into world trade and promoting their economic growth', said Gove.

For his part, the French Ambassador to Mozambique, Christian Daziano. said that one of the central objectives of the project is to strengthen dialogue between INAQUA, INIP, and the APCM, through cooperation between public and private institutions.

"The project will also focus on assistance to the Prawn Producers Association, which should work with public institutions, and ensure close cooperation between all stakeholders", he said.