A WORLD BANK (WB)-supported fisheries program with funding of $200 million (P10 billion) is close to being approved for implementation, the Department of Agriculture (DA) said.
In a statement Wednesday, the DA said the seven-year project, known as the Fisheries and Coastal Resiliency (FishCoRe) initiative, is expected to launch early next year. It is expected to benefit 500,000 fisherfolk and other stakeholders in the fisheries and aquaculture sector.
The project will be implemented by the Bureau of Fisheries and Aquatic Resources (BFAR).
“It aims to support the scaling-up and modernization of the Philippine capture fisheries and aquaculture industry, through the provision of technical support and innovation, access to modern and resilient fisheries infrastructure and post-harvest facilities, and promotion of efficient connectivity and product value addition, among other initiatives,” the DA said.
It said the project has been set targets that include a 3% increase in household income and value-added for fishery commodities, a 5% reduction in postharvest losses, and a 1% to 5% reduction in illegal, unreported, and unregulated fishing incidences.
Agriculture Secretary William D. Dar said the project will be implemented in Fisheries Management Areas (FMA) 6 and 9, which covers 11 regions and 24 provinces spanning 32 million hectares of coastal and marine waters.
FMA 6 consists of the coastal waters that include Pagudpud Bay, Subic Bay, and Manila Bay while FMA 9 covers the Bohol Sea, Panguil Bay, Iligan Bay, Gingoog Bay, Butuan Bay, and Sogod Bay.
“We are optimistic that the FishCoRe Project will establish examples of good governance mechanisms, leading to better management of the ‘blue resources’ and aquaculture development in two FMAs,” Mr. Dar said.
The BFAR has divided the country into 12 FMAs.
The DA said the World Bank has been supportive since the negotiations for the project started in 2020.
“We fully support the goals of the FishCoRe Project to sustainably improve incomes of Filipino fisherfolk, and support resilient coastal communities through enhanced ecosystem management, productivity-enhancing technologies, aquaculture, reduced post-harvest losses, value-chain infrastructure, and related activities,” World Bank Country Director Achim Fock said in a previous letter to Mr. Dar. — Revin Mikhael D. Ochave
