Manila, Jan 26, 2007 AEST (ABN Newswire) - Asian Development Bank (ASX: ATB) is helping the Philippines strengthen its fragile marine ecosystem through a $33.8 million loan for a project to improve coastal resource management and boost livelihoods of fisherfolk. ADB will also administer a $9.0 million Global Environment Facility (GEF) grant for the project.
The project will be carried out in six priority marine biodiversity corridors and ecosystems, covering coastal communities in 68 municipalities in the provinces of Cagayan, Cebu, Davao Oriental, Masbate, Siquijor, and Zambales where almost eight out of 10 people are living below the poverty line.
The coastal and marine resources of the Philippines are of national and global importance because of their rich biodiversity and contribution to the economy. The Philippines is the 11th largest fish producer in the world, its fishing industry employing more than one million people, or 5% of the national labor force. However, these resources are declining and biodiversity is under threat due to human activities.
Of the 25,000 square kilometers of coral reefs in the Philippines, less than 5% are still in excellent condition. Mangrove forests are declining at a rate of 2,000 hectares per year. Municipal fisheries production has been declining, with an average reef fish catch per unit effort at less than 2 kilograms per day, down from as much as 20 kg/day 30 years ago.
Overfishing, destructive fishing practices, and land conversion around the coastal areas are threatening to inflict permanent damage on the ecosystem. The lack of an integrated approach to coastal zone planning, policy and institutional weaknesses, weak law enforcement, high poverty incidence, and unabated access to marine and coastal resources are aggravating the situation.
"The project will directly address threats to major coastal ecosystems including coral reefs, sea grass, mangroves, and beaches, to improve fishing catches in the coastal waters and address environmental degradation," says M. Jamilur Rahman, an ADB Principal Project Management Specialist.
Four "extremely high" priority biodiversity corridors have been selected - the Babuyan corridor along the northern coast of Luzon, the Ticao Pass-San Bernardino Strait-Samar Sea corridor, the Daanbantayan corridor straddling the Visayas Sea and the Tanon Strait, and the Pujada Bay corridor. Also included are the high priority Zambales marine ecosystem in the Luzon Sea and Siquijor small-island marine ecosystem between the Sulu Sea and Bohol Sea.
The ADB loan will help develop a holistic approach to coastal resource management and strengthen national and local government agencies and coastal communities undertaking these programs. It will promote resource management and biodiversity conservation; provide supplementary incomes for fisherfolk through environment-friendly sustainable enterprises and livelihoods; and address social services needs of the disadvantaged communities. Project activities will benefit about 10,000 families and boost household incomes by an average of 10%.
GEF will help finance the biodiversity conservation and management-related activities. The Philippines' national and municipal governments as well as beneficiary communities will provide an additional $19.52 million toward the total project cost of $62.32 million.
The project will be undertaken over about six years with the Department of Environment and Natural Resources acting as the executing agency.
ADB's loan comes from its ordinary capital resources, carrying a 25-year term, including a grace period of six years. Interest is based on the ADB's LIBOR-based lending facility.
Contact
Floyd Whaley
Email: fwhaley@adb.org
Tel:+632 632 6848; Mobile: +63 920 938 6488
Graham Dwyer
Email: gdwyer@adb.org
Tel:+632 632 5253; Mobile: +63 920 938-6487
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