Metro Manila, CNN Philippines— The Philippine Fisheries and Coastal Resiliency (FishCoRe) Project has received support from President Ferdinand “Bongbong” Marcos Jr., according to the Office of the Press Secretary (OPS).
In a statement over the weekend, the OPS said that FishCoRe, which was created to address the issues in the fisheries sector, ensure food security, and reduce poverty incidence, is expected to benefit 354,905 registered fisherfolk in 24 provinces.
“President Ferdinand R. Marcos Jr., who also heads the Department of Agriculture (DA), is fully supportive of the project as this will ‘benefit the poorest of the poor’ among the fisherfolk in 24 provinces,” the OPS said.
The OPS added that Marcos on Thursday gave his support to the project during his meeting with officials from the National Economic and Development Authority (NEDA).
“For some reason hindi nagpo-flourish ‘yung aquaculture, hindi na nade-develop [aquaculture is not flourishing, it is not being developed]. 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,” Marcos stressed.
According to the OPS, the FishCoRe Project is a seven-year investment that would help the country implement reforms in fishery and aquaculture management targeted at better managing local fisheries resources and increasing the value of fisheries production.
“FishCoRe’s project components include supporting the development and implementation of appropriate fisheries management policies, establishing support facilities for the rehabilitation of coastal and maritime habitats, and improving institutional capacities for strengthened enforcement,” explained the OPS.
NEDA approved last week the ₱11.2 billion fund for the FishCoRe project. Of the ₱11.2 billion total project cost, ₱9.6 billion will come from the World Bank (WB).
The remaining ₱660.6 million will be provided by the government through the DA’s Bureau of Fisheries and Aquatic Resources (BFAR), while the remaining ₱1.16 billion will be shouldered by private partners and cooperatives.
