February 25, 2019 – USAID’s SEED in cooperation with stakeholders from Aquaculture value chain launched the first meeting of the Aqua Investment Advisory Group with Sixty three esteemed attendees participated in the meeting representing 25 institutions. This initiative by SEED aims to identify the gaps between the aquaculture and fish value chain as well as rank set gaps, while conjointly agreeing with the representatives of financial institutions and industry stakeholders on investment priorities for MSMEs in this value chain.
Throughout the meeting, in the inception phase of the initiative, several presentations were given including one by World-Fish demonstrating the Aquaculture and Fish Supply Chains Assessment. Moreover, discussions were held on how to assist in developing investment profiles, validation of market data, identifying the value chain gaps in addition to investment opportunities that were ranked as a top priority including cold chain (On farm pre-cooling), water reusing technology (IPRS), among other things.
One of the goals of this Advisory Group is to conduct investment studies that will cover aggregate demand, supply and the economic feasibility, loan terms and the associated risks. Once the advisory group endorsed the investment profiles, this would trigger the delivery phase, during which SEED will support the interested financial institutions to adopt existing financial products and/or develop new products based on the investment profiles.
The Aqua Investment Advisory Group will hold subsequent meetings to agree on a management mechanism and the future activities of the advisory group. The meetings are also critical to maintain the flow of the updated information to the financial institution, value chain actors and stakeholders to develop the dialog between both channels.
The 25 institutions that participated in the Advisory Group meeting were:, Credit Guarantee Company of Egypt (CGC), Egyptian Banking institution (EBI) Central bank of Egypt (CBE), Bank of Alex, Industrial Development Authority (IDA), National Bank of Egypt (NBE) Qatar National Bank (QNB), Egypt Agricultural Bank, The Aquatic Union U.S. Soybean Export Council (USSEC), World-Fish, United States Department of Agriculture (USDA) General Authority For Fish resources Development and the Central Laboratory for Aquaculture Research (CLAR).