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WB may fund PH’s P10.1-B loan for fishery project

By Madelaine B. Miraflor

The World Bank is amenable to fund the P10.1-billion Fisheries and Coastal Resiliency (FishCoRe) project of the Department of Agriculture to improve the country’s fishery production.

In a statment, the DA said this new program is targetted forimplementation next year.

DA said it had already reached out to World Bank to fund the entire project and already received favorable response.

“The World Bank favorably supports the DA’s proposed FishCoRe project,” the DA said.

The loan, around $200 million, would support the scaling-up and modernization of Philippine capture fisheries and aquaculture, through the provision of technical support, capital, and enabling environment.

In a recent letter to Agriculture Secretary William Dar, World Bank Country Director Achim Fock said they fully support the goals of the project to sustainably improve incomes of Filipino fisherfolk.

World Bank likewise supports efforts to make coastal communities resilient through enhanced ecosystem management, productivity- enhancing technologies, aquaculture, reduced post-harvest losses, value-chain infrastructure, and related activities, Fock further said.

Dar has already requested to accelerate the processing of FishCoRe so the agency could attain loan approval by middle of 2021.

DA’s Bureau of Fisheries and Aquatic Resources (BFAR) is tasked to submit the project feasibility study by November 2020, in time for its presentation to World Bank officials in June 2021.

Once the loan is approved, the BFAR will implement the FishCoRe project in October 2021.

Dar said the project “would directly contribute to achieving key outcomes in the department’s Food Security Framework which is integral to the national goals of recovery and resiliency as we survive, reboot and grow in the wake of the Covid-19 pandemic.”

The FishCoRe project also aims to address structural weaknesses in the value chain to improve sustainability and resiliency of fishery resources, increase incomes of fisherfolk, and uplift the socio-economic condition of coastal communities amid the Covid-19 pandemic.

The proposed project will be implemented in selected sites among the 12 Fisheries Management Areas (FMAs) established nationwide in 2019 by BFAR to sustainably manage the country’s fishery resources through a science-based and participatory governance framework.

The FMAs include the country’s major fishing grounds, lakes, bays, gulfs and other areas that may be delineated for fishery resource management purposes, approximate stock boundaries, range, distribution, and structure.

The FishCoRe project has four components namely fisheries coastal areas resiliency planning; fisheries and coastal resilient resource management; modern and resilient livelihood investments; and project management and coordination.

Fisheries coastal areas resiliency planning includes integrated coastal zone planning and policy development in three to four FMAs using ecosystem approach to fisheries management.

Fisheries and coastal resilient resource management, on the other hand, includes co-management of coastal and marine resources to promote resiliency and sustainable fisheries.

Meanwhile, modern and resilient livelihood investments covers modernization of fisheries and aquaculture enterprises throughout the value supply chain, and investments in climate-resilient infrastructure, support facilities, system development, credit and insurance access, and logistics.


Source: Manila Bulletin (https://business.mb.com.ph/2020/06/01/wb-may-fund-phs-p10-1-b-loan-for-fishery-project/)

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