At least 354,905 registered fisherfolk in 24 provinces will benefit from the Philippine Fisheries and Coastal Resiliency (FishCoRe) project by the Department of Agriculture (DA).
In a press release on Sunday, the Office of the Press Secretary (OPS) said the FishCoRe project aims to address pressing problems in the fishery sector such as declining fish catch, high post-harvest losses, and high poverty incidence among fisherfolk.
The project will ensure food security and resiliency through “improved aquaculture production, increased fish stocks, provision of diversified livelihood opportunities, and higher incomes for fisherfolk,” it said.
According to the OPS, the National Economic and Development Authority (NEDA) has approved Php 11.2 billion to finance the FishCoRe project.
Of the Php 11.2 billion, Php 9.6 billion will come from World Bank’s official development assistance.
While the remaining Php 666.6 is shouldered by the Bureau of Fisheries and Aquatic Resources and Php 1.16 billion is from private sector partners and beneficiary cooperatives.
President Ferdinand 'Bongbong' Marcos Jr., who heads the DA, showed his full support for the program during the meeting with NEDA officials last week.
“For some reason hindi nagfo-flourish ‘yung aquaculture, hindi na nade-develop. That’s why this is important for me. I think this is where — if not all, it will be part of our food supply. It will give very good income for our fisherfolk,” the President said as quoted by the OPS.
