Philippines seeks World Bank’s loan to boost fisheries sector hinh anh 1Illustrative image (Source: internet)

Hanoi (VNA) –
The Philippine Department of Agriculture is seeking a 200-million-USD loan from the World Bank to help boost the local fisheries industry.

The FishCore project is integral to the national goals of recovery and resiliency as the sector is striving to survive, reboot and grow amid the COVID-19 pandemic.

It also aims to address structural weaknesses in the value chain to improve sustainability and resiliency of fishery resources, increase incomes of fisherfolk, and uplift the socio-economic conditions of coastal communities.

The loan is expected to support the expansion and modernisation of local capture fisheries and aquaculture through the provision of technical support, capital, and an enabling environment./.
VNA