ZCZC
BSS-18
WB-ASSISTANCE-AGREEMENT
$240m deal signed with WB to help marine, coastal fisheries
DHAKA, Oct 25, 2018 (BSS) – The government today signed a $240 million financing agreement with the World Bank to help improve management and production in marine and coastal fisheries and aquaculture.
The agreement was signed by Economic Relations Division (ERD) Senior Secretary Kazi Shofiqul Azam and World Bank Acting Country Director for Bangladesh Zahid Hussain at a simple ceremony at the ERD in the city’s Sher-e-Bangla Nagar area.
The Sustainable and Marine Fisheries Project will help improve fisheries management systems, infrastructure, value chain investments, and encourage private sector investment to increase the availability and quality of sea fish. It will also support reforms in fisheries policies and regulations.
ERD Senior Secretary Kazi Shofiqul Azam said for Bangladesh, the fisheries sector is a major driver for growth. “The marine and coastal fisheries have significant potential for sustainable and higher production. The project will directly contribute to Bangladesh’s Blue Economy initiatives.”
In 16 coastal districts, the project will set up community co-management associations with fishing communities, enabling them to adopt supplementary and alternative livelihoods. While empowering fishing communities, especially women through skills development and nutrition awareness, the project will also establish 100 model fishing villages.
The current fisher identity card system will be expanded under the project and linked with the geographic information system platform. Vessel registration and licensing for fishing will also be improved.
In addition, the project will help the government conduct stock surveys and assessments for shrimp and sea fish stocks and strengthen monitoring systems for industrial and artisanal fisheries.
BSS/ASG/GM/BR/1710