THE United Nations Food and Agriculture Organization (FAO) is providing $1 million to boost the country's fisheries sector, the Department of Agriculture (DA) said on Sunday.
The funding will be spent on technical cooperation projects (TCP) with focus on the agri-fisheries sector, Agriculture Secretary Francisco Tiu Laurel Jr. said.
"The identified TCPs focused on agri-food system transformation, additional responses to El Niño-affected areas, and agricultural investment for aquaculture and seaweed production," the DA said.
DA spokesman and Assistant Secretary Arnel de Mesa said that the department initially proposed around $594,000 of grant during his meeting with FAO Philippine representative Lionel Dabbadie.
"We will make it a point to fast track the preparation process to ensure that our agricultural sector can benefit from this investment, especially the assistance intended for areas heavily damaged by El Niño, which is a key priority of our secretary," said de Mesa.
According to the department, the technical cooperation strengthens the relationship between the DA and FAO while also addressing the challenges in the agri-fishery sector.
Moreover, the DA said that this will open additional opportunities and additional resources from other multilateral organizations for the benefit of Filipino farmers and fisherfolk.
Last month, the DA and FAO announced plans to strengthen the country's agri-food systems and boost rice productivity.
This involves collaboration with the International Rice Research Institute and local government units in utilizing improved and resilient rice varieties.
Tiu Laurel and FAO Director-General Qu Dongyu emphasized the significance of technology and innovation in elevating the Philippines' agri-food systems toward sustainability, resilience and inclusivity.
During the high-level ministerial session held in Sri Lanka, Dongyu highlighted the Philippines' aquaculture sector as a promising industry with the potential to contribute to economic growth.
Dongyu added that this sector could help provide decent livelihood at the local level and improve food security and nutrition.