Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. and Korea International Cooperation Agency (KOICA) Country Director Jung Youngsun have signed the Records of Discussions (RDs) to facilitate the implementation of two separate grant assistance projects amounting to $16 million for the promotion of aquaculture development and community-based agribusiness.
According to a DA media release, the first project, “Capacity Building on Aquaculture Development for Income Increase of Fisherfolk in Guimaras Province, Philippines,” is a $10-million grant project spanning seven years with the main goal of helping local fisherfolk increase their income by enhancing aquaculture production and strengthening the value chain.
Under the project, the two institutions agreed to support the establishment of aquaculture infrastructures, including a hatchery system and a pilot pond for high-value species; transfer advanced aquaculture technologies through capacity-building programs; and develop business operation structures for cooperatives.
Meanwhile, the second project titled, “Development of Community-Based Agribusiness to Improve the Livelihood and Income of Marginal Farmers in Central Luzon,” will run for six years with a $6-M grant. It aims to diversify income sources and strengthen the agricultural activities of marginal farmers in the region through the establishment of an Agribusiness Incubation Center in Zambales and the enhancement of the existing DA Technology Business Incubation facility in Tarlac.
It will also support local farmers through the conduct of training sessions and other capacity-building initiatives, the introduction of agricultural interventions, and the provision of assistance in agribusiness activities.
Both projects highlight KOICA’s unwavering support for enhancing the Philippine agricultural sector and improving the lives of Filipino farmers and fisherfolk. The agency previously provided $20.78-million worth of grants to the Philippine government, which includes three other projects on agri-mechanization development, smart agriculture, and dairy herd improvement that are currently being implemented by the agriculture department.
