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Tunis, 16 November 2005 – The Board of Directors of the African Development Fund approved a loan of 6.325 million Units of Account* (US$ 9 million or 19 billion ariary) to finance the Tuléar Fishing Communities Support Projec (PACP), South-West Madagascar.
The sector goal of the project is to help reduce rural poverty in Madagascar. The specific objective of the PACP is to promote the sustainable development of traditional maritime fishing by consolidating organizations of beneficiaries and State services, joint and responsible management fishery resources, and adequate equipment of fishermen.