Dhaka, Bangladesh (BBN)– The World Bank (WB) is planning to launch a six-year long ‘Integrated Fisheries Livelihood Project’, at an estimated cost of $156 million, with the aim of improving fisheries management and creating employment in the country.
The WB has been in discussion with the Bangladesh government on possible support for a new fisheries development project. The proposed ‘Integrated Fisheries Livelihood Project’ will aim to increase incomes in the rural fishing community and the availability of fish products for domestic consumption, by improving the productivity and quality of inland fishing and access to markets.
The proposed project would improve the rural livelihoods of at least 1,000 fishing communities and 250,000 households, a WB press statement said.
Meanwhile, the WB and the Ministry of Fisheries and Livestock have already started discussions on the basic project design and implementation approach but further discussions are required to finalize the project.
The World Bank and the ministry reached a consensus on modifications in the draft project concept note. It was agreed to concentrate on improving the performance of inland open water capture fisheries, especially through community-based organizations.
The fisheries sector, despite its relatively small size, contributes significantly to the country’s economy. The inland fishing improves nutrition, generates revenues through exports and creates employment.
BBN/SSR/AD-12Oct10-6:55 pm (BST)
