World Fishing & Aquaculture
22 October 2015
The Philippines government has recently launched a major investment programme to improve agricultural and fisheries production as part of long term plans to increase rural incomes and boost social development in the country’s poorest regions.
In addition to targeting low income communities, the investment programme will help with infrastructure reconstruction costs to support the rebuilding of fishing and farming communities affected by Typhoon Haiyan Yolanda that struck the Philippines central Visayas region on 8 November 2013, causing widespread destruction of fishing ports, fishing boats, farms and local communities.
Financial support for the investment scheme includes a US$500 million loan from the World Bank and other international credits. Apart from loans to small scale fishermen to buy fishing boats, nets and other equipment, the government is funding infrastructure construction to support fisheries and agricultural development.
Facilities being built include fish landing centres and all-weather roads in rural areas to enable fishery products and agricultural goods to be transported to local markets.