AGRICULTURE : Government secures money for the fisheries sector
The World Bank’s Board of Executive Directors, has approved a total of $53.8 million financial support to boost the fisheries sub-sector in Ghana.
The amount, which comprises of a grant of $3.5 million from the Global Environmental Facility and a loan of $50.3 million from the International Development Association, would be used to implement the fisheries and aquaculture project in Ghana.
A statement signed by Nii Amasah Namoale, Deputy Minister of Food and Agriculture in-Charge of Fisheries, copied to GNA, said the first component of the amount, $3.5 million, would be spent on good governance and sustainable management of the fisheries sub-sector.
It said the amount is to be used to build the capacity of the government and stakeholders to develop and implement policies through shared approach that would ensure that fish resources are used in a manner that is environmentally sustainable.
The statement said the sub-component of the facility included developing the legal and operational policy to enable the implementation of Ghana Fisheries and aquaculture Sector Development plan.
It said part of the facility would be used for strengthening fisheries management including fishing rights and stakeholder-based management and ensuring necessary research activities for sustainable exploitation and aligning fishing capacity and efforts towards sustainable catch levels.
The statement said the second component, $10.9 million, would be channeled to the reduction of illegal fishing.
It explain that the funds would be used to reduce illegal fishing activities threatening the sustainable management of the country’s fish resources, by strengthening fisheries monitoring, control and
The statement said the third component, $12.1 million, would be used to identify and implement measures to increase the benefits to Ghana from the fish resources, by increasing the share of the valued-added captured in the country.
It said the package would be used for the value chain development as well as the fish product trade and information systems.
The statement said the fourth component, $8 million, would be used to set the framework to increase investment in aquaculture.
It said the structure would include developing the aquaculture policy and legal framework, and improving the genetic quality of tilapia fingerlings and brood-stock.
The statement said the fourth facility would be used to facilitate the catalyzing of aquaculture development for medium and large scale enterprises, marketing and technical studies as well as support for small-scale aquaculture development.
It said the fifth component, $4.1 million, would be used to support the project implementation and regional coordination, to ensure that regular monitoring and evaluation is conducted and the result would be made available for decision-making and project management.