An agreement to expand production of seaweeds and the establishment of marine culture (mariculture) parks is being entered by the Bureau of Fisheries and Aquatic Resources (BFAR) and Land Bank of the Philippines (LBP) to help raise fishery production which accounts for a sizable 25 percent of Philippines' total farm output. A memorandum of agreement (MOA) will be signed by the two agencies as part of LBP's move to raise its fishery lending which as of 2009 had zero growth at ₱718.7 million, according to LBP First Vice President Liduvino S. Geron.

Aguiba, M. M. (2010, February 15). BFAR, LBP to sign pact on seaweed production and mariculture parks. Manila Bulletin, p. B-2.