ADB approves funds for firewood, fishing projects

The African Development Bank (ADB) has approved a loan of approximately US $12.9 million to finance a fire wood project in Benin, a news release from the bank said. The project aims to reduce poverty through sustainable forestry resources management as well as improve the supply and demand for wood and promote alternative energy sources, the release said. It will also promote the activities of women involved in forestry and support the private sector in fuel wood substitution, production and distribution. The project will also contribute to the rehabilitation of 200 km of roads, the construction of nine schools, nine village health units and the drilling of 22 boreholes, the release added.

In Guinea-Bissau, the bank approved about US $7.7 million to finance the fishing sector. The project, which aims to strengthen food security, would reduce poverty by promoting fishing nationwide. Besides institutional building and refresher training of some 200 people, the project will build a 360-metre fishing hedge, repair workshops, a fresh fish market and develop two hectares of land for onshore industries.