GEF supports 140 poor fishing communities

March 31, 2013 | 12:32

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The World Bank (WB) approved an additional grant of $6.5 million to the Coastal Resources for Sustainable Development Project (CRSD) in Vietnam on March 29.

The credit comes from the Global Environment Facility (GEF) – a Trust Fund managed by the WB to help address six critical focal environmental areas: biodiversity, climate change, international waters, ozone depletion, land degradation and persistent organic pollutants.

The money will be used to finance inter-sectoral planning for coastal areas and the co-management of near-shore capture fisheries.

The grant will provide direct support to around 140 poor fishing communities in eight provinces across the country to help them prepare and implement co-management plans for coastal fisheries to improve their sustainable management.

The original CRSD project (funded by US$100 million from IDA credit) was approved by the WB on May 10, 2012 and has four components: strengthening institutional capacity for sustainable fisheries management; good practices for sustainable aquaculture; sustainable management of near-shore capture fisheries; and project management, monitoring, and evaluation.

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