$100M ADB fisheries project slated for coast

THE Asian Development Bank (ADB) will disburse $100 million loans and grants to implement the Coastal and Sustainable Fisheries project for economic development in Koh Kong, Preah Sihanouk, Kampot and Kep provinces.

According to the details of a meeting between Kep Provincial Administration and ADB, the funding consist of ADB’s budget of $50 million and concessional loans and grants of $10 million, Agence Francaise de Developpement ($30 million) and ASEAN Infrastructure Fund ($10 million).

Kep deputy governor Vao Sokha said the funding will aid the development of two boat berths to facilitate the docking of fishermen and tourist boats.

“Once the project is in place, the authorities will try to engage partners to maintain the existing buildings, keep the environment clean and provide the best possible water and electricity supply to those areas,” he said.

ADB said the project, to be approved this year, is aimed at enhancing adaptation and mitigation based on coastal and marine ecosystems in the fisheries sector and improving infrastructure for climate-resilient post-harvest fisheries.

“The project involves building quality fishing ports to improve marine activities for the community as well as waste management in the sea. It will ensure the sustainability of natural resources for the next generation,” said Sokha.

Previously, Lindsay Saunders, ADB working group head, said the project would help Cambodia manage the marine ecosystem, improve coastal infrastructures and establish funding to support the private sector in coastal areas.