CONAKRY, June 6, 2025 – The World Bank Group has approved a $100 million International Development Association (IDA) credit for Guinea's Kounki Fisheries and Aquaculture Project.
The project will focus on strengthening climate resilience and develop value chains in fishing and aquaculture communities in targeted areas. The aim is to improve adaptation through increased employment opportunities, diversification of livelihoods, and access to finance for SMEs in the sector. The project will also improve infrastructure to reduce disaster risk, promote climate-smart practices, and strengthen fisheries and mangrove management systems through science-based and community-based approaches.
In addition to the $100 million, the Kounki project is also receiving €20 million in co-financing from the French Development Agency and a $5 million grant from PROBLUE, bringing the total amount to $128 million plus €4 million from the France-Guinea Debt Reduction and Development Contract (C2D). This financing from IDA and partners represents a significant step forward in their commitment to promote sustainable development and reduce poverty in Guinea.
"We are committed to supporting Guinea on its journey towards sustainable development. 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," said Issa Diaw, World Bank Group Resident Representative for Guinea. "The Kounki project will boost structural transformation by strengthening the adaptive capacity of fishing and aquaculture communities, which are particularly vulnerable to the impacts of climate change."
The Kounki project is expected to significantly improve the livelihoods of coastal communities in Guinea by providing them with the tools and resources needed to adapt to the impacts of climate change. By promoting sustainable practices and improving access to finance, the project aims to foster a more resilient and inclusive economy.
"The Kounki Fisheries and Aquaculture Project marks a major strategic milestone in our ambition to transform Guinea's fisheries sector," said Ms. Fatima Camara, Minister of Fisheries and Maritime Economy. "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."
The Kounki project contributes to the implementation of Guinea's national development strategy "Simandou 2040" and the Fisheries Strategy (2022-2027). It will support key priority reforms and investments related to strengthening fisheries governance, developing artisanal fisheries and aquaculture value chains, protecting ecosystems, and creating an enabling environment for private sector investments.
