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Development of a Sustainable Fisheries Fund for the Western Central Atlantic: Wilderness Markets and Conservation International

A stepwise approach prepared with support from Wilderness Markets and Conservation International

Year of publication 2019

Place of publication Rome, Italy ;

Pages 30 p.

Publisher FAO ;

Product type Book (stand-alone)

Edition 1

Synopsis (short abstract) The Sustainable Fisheries Fund (SFF) proposed in this brochure aims to enhance the conservation and management of marine aquatic resources and promote sustainable fisheries operations and value chains in the Western Central Atlantic. The SFF would enable the private sector involved in fisheries in the region to access credit at relatively low interest rates, reduced guarantees and more flexible conditions, compared to commonly applied commercial bank loans. The increased credit access will contribute to faster and wider implementation of regionally agreed fisheries recommendations by the private sector. The SFF is an innovation in fisheries impact investments, as it will be the first fund that will directly promote RFMO recommendations implementation by the private sector. This SFF was developed with support of the World Bank implemented, GEF funded, Ocean Partnership Project for Sustainable Fisheries and Biodiversity Conservation Models for Innovation and Reform (OPP).

Statutory body / Meeting title Western Central Atlantic Fishery Commission (WECAFC)

Language English

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    The mandate area of the Western Central Atlantic FisheryCommission (WECAFC) lacks a regional fisheries managementorganization (RFMO). This means that shared fisheriesresources are not being managed collaboratively. As aconsequence, the region is in the top five of the mostoverexploited fisheries areas in the world. Improvingthe governance of fisheries in the WECAFC mandate area iskey to enhancing the status of resources, stoppingthe downward trend in fisheries production, and ensuringlong-term sustainable fisheries. The project aimed to increasethe capacity for effective participation by the membersof WECAFC in fisheries governance in the region.
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    Building Capacities and Awareness on Regional Fisheries Governance in the Western Central Atlantic - GCP/SLC/015/EC 2021
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    There has been a steady decline in fisheries production in the Western Central Atlantic region in recent years. Given the recognized need to improve fisheries management, secure sustainable fisheries and develop the fisheries sector in the region, it was anticipated that investment in regional fisheries management would reduce reliance on imports. During the 16th Session of the Western Central Atlantic Fishery Commission, the decision was taken to launch the process leading to the establishment of a Regional Fisheries Management Organization, which was expected to contribute to the sustainability of fisheries resources through better fisheries governance at regional level. The present project was implemented between 2017 to 2019 to follow up on this important question for members of the Commission, as well as to prepare the background documents for and support the organization of the first preparatory meeting, which was to mark the practical phase of the transformation of the Commission.
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    Project
    Fishery credit in Indonesia
    Field document no. 1
    1982
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    Indonesia ranks among the world's top 15 fishing nations with its yearly output of 1.8 million tons. Its fisheries, essentially of a small-scale nature, support the living of about 5 percent of its population and supply more than half of the country's low intake of animal protein, as well as making a positive contribution to the balance of payments. Adequate availability of credit is a requisite for a sustained growth of the fisheries sector, which offers scope for development in both marine and inland waters. Institutional, noninstitutional and private sources of funding available to smallscale fishermen in Java are analysed and their complementary function is described in this report. Inadequacies on the institutional side, such as insufficient total funding, a long time-lag between application for loan and its disbursement and conditions for granting a loan still leave ample space for usurious private moneylenders. The report focuses on credit granted by institutional sources. Mai n constraints are analysed, such as inadequate knowledge of the credit scheme by fishermen, lack of coordination between the head office of the Bank Rakyat Indonesia (BRI) and its branch offices, lack of follow-up action on the part of the loan granting institution, which results in low rates of repayment, high administrative cost and so on. Recommendations include a strengthening of the extension service (a project proposal is attached); a more vital functioning of fisheries cooperatives in in stitutional credit, coupled with the upgrading of their marketing infrastructure and facilities; implementation of socioeconomic studies concerning economic impacts rendered by credit programmes; better coordination between the Directorate General of Fisheries and Cooperative Department at all levels of administration and management; implementation of feasibility studies by BRI prior to the disbursement of loans; compilation of a manual on lending policies; project evaluation and appraisal, and utilization of agriculture training facilities for fisheries extension officers
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