Philippines gets $16-M South Korean grant for aquaculture, agribusiness
Pantabangan Aquaculture Park | PHOTO: Official Facebook Page of the Bureau of Fisheries and Aquatic Resources Central Office
MANILA, Philippines — The Philippines and South Korea are partnering to implement a $16-million grant for two projects aimed at promoting aquaculture development and community-based agribusiness.
In a statement on Monday, the Department of Agriculture (DA) said the grant signed with the Korea International Cooperation Agency (Koica) would facilitate the implementation of multiyear projects for farmers and fishers.
The first undertaking is called Capacity Building on Aquaculture Development for Income Increase of Fisherfolk in Guimaras Province. It aims to help fisherfolk increase their income by bolstering aquaculture production and value chain. It will be implemented for seven years.
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This initiative, which received a grant of $10 million, involves development of aquaculture infrastructure such as hatchery system and pilot pond for high-value species.
It also entails the transfer of advanced aquaculture technologies through capacity-building programs and the development of business operation structures for cooperatives.
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Supporting farmers
The second project is the $6-million Development of Community-Based Agribusiness to Improve the Livelihood and Income of Marginal Farmers in Central Luzon. It seeks to diversify farmers’ income sources and boost their activities.
Under the project, an agribusiness incubation center in Zambales will be established, while the existing DA Technology Business Incubation facility in Tarlac will be improved.
Both parties will conduct training sessions and other capacity-building initiatives, introduce agricultural interventions and assist in agribusiness activities to support farmer-beneficiaries.
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Food security
The DA said the two projects exhibit its relentless pursuit of agricultural development and modernization through collaborative engagements with local and international institutions to achieve a bankable agriculture industry and nationwide food security.
“Both projects highlight Koica’s unwavering support for enhancing the Philippine agricultural sector and improving the lives of Filipino farmers and fisherfolk,” it added.
Previously, Koica provided $20.78 million in grants to the Philippine government for the three projects currently implemented by the DA: agri-mechanization development, smart agriculture and dairy herd improvement.
