The Department of Agriculture (DA) is seeking a $200-million fund from the World Bank to finance its Fisheries and Coastal Resiliency (FishCoRe) project to improve the country’s fishery production and protect the “blue economy” as food sustainability becomes a pressing need more than ever. In a statement, Agriculture Secretary William 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 resilience as we survive, reboot and grow in the wake of the COVID-19 pandemic.”The loan, which is equivalent to P10.1 billion, will be used to expand and modernize the Philippine capture fisheries and aquaculture through the provision of technical support, capital and enabling environment. This will be implemented in selected sites in 12 delineated fisheries management areas (FMAs) in the country to sustainably manage the country’s resources through a science-based and participatory governance framework.

Ocampo, K. R. (2020, June 3). DA seeks World Bank funding for fisheries project. Philippine Daily Inquirer, p. A13.