PHL - World Bank evaluating $200-M PHL fisheries loan
The World Bank is considering a proposed $200-million loan for Philippine fisheries by February, according to project documentation posted by the bank Wednesday.
The seven-year project aims to improve fisheries management and enhance the value of fisheries production in coastal communities.
The appraisal date was Dec. 14 and the estimated board date is on Feb. 28.
The project aims to develop a planning framework for fisheries management, and plans to enhance the economic value of fisheries to communities by investing in projects that reduce post-harvest losses and expand production. Investments will be made mostly in public infrastructure and private enterprise projects.
The World Bank said the two goals should be closely coordinated.
“Without the foundation of sustainable fisheries management, investment in post-harvest value chain will potentially threaten, rather than enhance long-term fisheries production,” the World Bank said.
“Conversely, introduction of new harvest control measures may, in the short term, adversely impact the fishers’ livelihoods that they aim to support in the longer term.”