WORLD BANK APPROVES US$53.8 MILLION TO BOOST FISHERIES SUBSECTOR

The World Bank’s Board of Executive Directors July 14, 2011 approved a total investment cost estimated at US$53.8 million, of which IDA will finance US$50.3 million and US$3.5 million is being financed by a grant from the Global Environmental Facility (GEF).

The project comprises the following five components:

Component 1: Good Governance and Sustainable Management of the Fisheries (US$15.2 million IDA; US$3.5 million GEF)

This component aims to build the capacity of the Government and stakeholders to develop and implement policies through a shared approach that would ensure that the fish resources are used in a manner that is environmentally sustainable, socially equitable and economically profitable. It will comprise the following four subcomponents: (i) developing the legal and operational policy to enable the implementation of the Ghana Fisheries and Aquaculture Sector Development Plan; (ii) strengthening fisheries management, including fishing rights and stakeholder-based management and ensuring necessary research activities for sustainable exploitation; (iii) aligning fishing capacity and effort to sustainable catch levels; and (iv) social marketing, communication and transparency.

Component 2: Reduction of Illegal Fishing (US$10.9 million IDA)

The component aims to reduce the illegal fishing activities threatening the sustainable management of the country’s fish resources by strengthening fisheries monitoring, control and surveillance (MCS) systems.

Component 3: Increasing the Contribution of the Fish Resources to the National Economy (US$12.1 million IDA).

The component aims to identify and implement measures to increase the benefits to Ghana from the fish resources, by increasing the share of the value-added captured in the country. It will comprise the following sub-components: (i) value chain development (fresh/frozen product/trade facilitation); and (ii) fish product trade and information systems.

Component 4: Aquaculture Development (US$8.0 million IDA).

This component aims to set the framework for increased investment in inland aquaculture. It will comprise the following sub-components (i) developing the aquaculture policy and legal framework; (ii) improving the genetic quality of Tilapia fingerlings and brood-stock; (iii) catalyzing aquaculture development for medium and large scale enterprises; (iv) marketing and technical studies; and (v) support for small-scale aquaculture development.

Component 5: Project Management, Monitoring and Evaluation and Regional Coordination (US$4.1 million IDA).

The component aims to support project implementation and regional coordination with the WARFP, ensuring that regular monitoring and evaluation is conducted, and the results are fed back into decision-making and project management.

For a more detailed description of the project, please visit:

World Bank Website

Facebook: http://www. Facebook.com/WorldBankGhana

Or Contact the Minister,  Ministry of Food and Agriculture, Accra, Ghana