The National Economic and Development Authority (NEDA) Board yesterday approved an P11.42 billion fisheries project, as well as the implementation of changes on five ongoing projects, Arsenio Balisacan, socioeconomic planning secretary, said.
The Philippine Fisheries and Coastal Resiliency (FishCoRe) project of the Department of Agriculture-Bureau of Fisheries and Aquatic Resources (DA-BFAR), partially funded through official development assistance (ODA), aims to enhance the resilience of ecosystems and communities in the Fisheries Management Areas (FMAs).
The project was conceptualized to address the problems in the fishery sector, such as declining fish catch, high post-harvest losses and high poverty incidence among fisherfolk.
The seven-year investment will support the implementation of reforms in fishery and aquaculture management in the Philippines aimed at improving the management of the country’s fishery resources and enhancing the value of fisheries production in selected FMAs.
Project components include supporting the development and implementation of appropriate fisheries management policies, establishing support facilities for the rehabilitation of coastal and maritime habitats and improving institutional capacities for strengthened enforcement.
FishCoRe also seeks to establish fisheries infrastructure and facilities and provide livelihood and enterprise development assistance to Filipino fisherfolk.
Of the total project cost, P9.6 billion will come from ODA provided by the World Bank.
The remaining P660.6 million will be shouldered by the government through the DA-BFAR, while the P1.16 billion will come from private sector partners and beneficiary groups or cooperatives.
Some 354,905 registered fisherfolk in 24 provinces with a coastal and marine area of about 32 million hectares are expected to benefit from the project.
Aside from the 26,877 jobs that could be created, the project proponents expect the FishCoRe Project to contribute to the administration’s thrust of ensuring food security and resiliency through improved aquaculture production, increased fish stocks, provision of diversified livelihood opportunities, and higher incomes for fisherfolk.
Also approved was the request of the Department of Transportation for utilization of savings, change in scope, and loan validity extension for the Maritime Safety Capability Improvement Project Phase I, as well as its request for 19-month loan validity extension for the New Communications, Navigation, Surveillance/Air Traffic Management systems development project.
For the Department of Public Works and Highways, the NEDA Board approved the request to extend by 12 months both the implementation period and the validity of the loan for the Samar Pacific Coastal Road Project, and the request for change in scope of works, increase in cost, and reallocation of contingency cost to civil works category for Integrated Disaster Risk Reduction and Climate Change Adaptation Measures in Low-Lying Areas of Pampanga Bay project.
Likewise, the Committee approved the request for change in scope for the Philippine Competition Commission’s Capacity Building to Foster Competition Project.
The NEDA Board is chaired by the President of the Philippines with the NEDA secretary as the vice-chairperson. – Angela Celis and Jocelyn Montemayor
