World Bank says to support Africa in developing blue economy

The World Bank said on Thursday that it will support Africa's blue economy to help lift millions of people out of poverty across the continent.

World Bank Vice President for the Africa Region, Makhtar Diop, said if well managed, the blue economy could contribute to food and nutrition supply, jobs and wealth creation, community resilience, as well as national economies.

"We are committed to supporting countries to unlock the potential of the blue economy through investments, analytical work and partnerships," Diop told a forum in Nairobi on embracing blue economy for Africa's accelerated growth.

He said investments should support improved governance, build community initiatives, and create the enabling environment for the private sector to engage in the blue economy in a responsible and sustainable way.

Diop urged African governments to sustainably exploit aquatic resources and resilient coasts as tremendous assets to benefit the current and future generations.

He regretted that climate change was putting additional pressure on coastal aquatic resources and resulted in weather-related disasters affecting the livelihoods of coastal communities and destroying valuable assets.

He said that the world's and Africa's coasts and aquatic resources were under threat from the negative impacts of rapid economic growth, mismanagement as well as natural factors.

In 2010, 123 million people lived in coastal areas, according to Diop.

"This population is estimated to increase by eight percent by 2020 and will exert more pressure on aquatic resources, including over-use, destruction, and pollution is expected to continue to increase," Diop said.

He called on African countries to translate Sustainable Development Goals to action to help conserve and sustainably use the oceans, seas and marine resources for sustainable development.

Over 12 million people are engaged in the fisheries sector alone in Africa. Endit