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.

Ochave, R. M. D. (2021, October 28). P10-B fishery project backed by WB nearing implementation. BusinessWorld, p. S1/4.