As part of the PAVIE project, the African Development Bank is supporting women and youth in the agriculture, fishing, aquaculture, and crafts sectors. Anouar Ouédraogo, project manager, is pleased with the success of the mission. The targeted individuals are trained, assisted with their projects, and then provided with financial management guidance.
After three years of implementation, the program has shown positive results:
– 3,200 individuals trained
– 3,176 formalized businesses
– 6,641 existing businesses financed
Regarding financing, the African Development Bank has implemented several mechanisms, including:
– Direct financing
– Guaranteeing projects with high risk for financial institutions
– Loans provided under the program itself (maximum interest rate of 5%)
For example, the PAVIE program has enabled the replacement of traditional canoes with fiberglass canoes. Young fishermen have been able to improve their productivity and income, making them less inclined to consider clandestine migration.
More broadly, this support strengthens local employment and legitimizes project leaders with financial institutions.
Source: Agence Ecofin