After seven years of preparations, the $209-million or P11.42-billion Philippine Fisheries and Coastal Resiliency (FishCoRe) Project has been approved by the World Bank and will soon be implemented, providing multiple fisheries interventions and benefitting over 1.15 million fisherfolk.
In a statement, the Department of Agriculture-Bureau of Fisheries and Aquatic Resources (DA-BFAR) disclosed that its first collaborative project with the World Bank is ready for implementation in August this year following its approval by the latter’s Board of Executive Directors last May 30.
“After years of preparation, the seven-year Philippine Fisheries and Coastal Resiliency Project with a total funding of US$209 million or P 11.42 billion is now set to provide multiple fisheries interventions to enhance both ecosystem and community resilience and benefit over 1.15 million fisherfolk, small to medium enterprises, other fisheries stakeholders, and residents in coastal communities across 11 regions and 24 provinces in the country,” it said.
Such is a welcome development for the country, considering that fisheries is a key sector in the economy that contributed 12.81 percent to the country’s total agricultural Gross Value Added in 2022.
“Currently, it provides livelihood to about 1.49 million individuals in the country,” it was noted. “Filipinos mostly consume fish and fishery products, constituting 11.68 percent of each person’s total food intake, next only to rice and rice products.”
“Despite its importance and the already existing programs and measures implemented by the government, this sector has continuously been at the receiving end of challenges and threats to its sustainability such as illegal, unreported, and unregulated fishing, declining fish catch, high post-harvest losses, and widespread poverty in the fishing communities. These issues are exacerbated by emerging challenges such as natural calamities and climate change,” it went on.
The aforementioned challenges are seen to be addressed by the FishCoRe Project “through the adoption of the ecosystem-based approach to fisheries management, therefore enhancing the value of fisheries production and elevating income in coastal communities through science, knowledge, and technology.”
It also seeks to develop and diversify fisherfolk livelihood through various technologies like integrated multi-trophic aquaculture, community-based nursery production of sea cucumber, abalone, sea urchin, aquasilviculture, and stock enhancement activities, among others.
Moreover, the development of infrastructure such as fish landing sites, fish ports, cold storage, and mobile laboratory facility and equipment are also priorities of the project.
“We thank the World Bank and all our partner national government agencies for helping us prepare for the eventual implementation of the FishCoRe Project,” expressed BFAR National Director Atty. Demosthenes R. Escoto.
“This project is a holistic approach that confronts from all sides the various long-standing issues being faced by the fisheries sector; from ensuring the sustainability of our fisheries and coastal resources for food security, to enabling maximized benefits of our fisherfolk towards poverty reduction through improved management on all facets to ensure a robust and resilient fisheries sector,” he added.