Logo of Phnom Penh Post newspaper Phnom Penh Post - ADB plans to dole out $100 million on marine fisheries development

ADB plans to dole out $100 million on marine fisheries development

Content image - Phnom Penh Post
The Asian Development Bank (ADB) plans to spend $100 million on a new ‘Sustainable Coastal and Marine Fisheries Project’. Hean Rangsey

ADB plans to dole out $100 million on marine fisheries development

The Metro Manila-based Asian Development Bank (ADB) plans to spend $100 million on a new “Sustainable Coastal and Marine Fisheries Project” which is expected to be approved next year.

The project was discussed during a meeting between Minister of Agriculture, Forestry and Fisheries Veng Sakhon and ADB senior official Anthony Gill on December 16.

Gill said $60 million of the project’s financing would come from ADB – a $50 million loan and $10 million grant – $10 million from the ASEAN Infrastructure Fund and $30 million concessional loan from Agence Francaise de Developpement (AFD), the development arm of the French government.

He asserted that the project would help the fisheries sector to prop up adaptation and mitigation measures specifically tailored to each coastal and marine ecosystem, enhance climate-resilient post-harvest infrastructure, and bolster investment in safe and sustainable value chains as well as financing for marine fisheries management.

Ung Try, deputy director of the Fisheries Administration (FiA) under the Ministry of Agriculture, Forestry and Fisheries, told The Post that the FiA is working with stakeholders on how to gather and use accurate information.

He stressed that the latest ADB project would be a major endeavour that requires careful consideration before implementation.

The FiA is also reviewing the specific tasks involved in the project, he said, adding that the fisheries, coastal and maritime sectors are in need of development partners, especially local communities based in the four coastal provinces – Koh Kong, Preah Sihanouk, Kampot and Kep.

“The ADB-launched project aims to utilise the potential of the Cambodian coast, which is more than 445km long, for sustainable benefits for both fisheries and ecotourism,” Try said.


  • Tensions high ahead of historic Kun Khmer match up

    The long-awaited November 5 matchup between Kun Khmer legend Prum Samnang and Myanmar-Canadian boxer Dave Leduc has become the most anticipated fight of the year. The Wurkz Sena Kun Khmer promotion, which will be held at the Town Arena at Chip Mong 271 Megamall, will see six

  • Manet: Cambodia safe for travel

    Prime Minister Hun Manet acknowledged that Cambodia and China have cooperated to tackle internet scamming, fraud and other cross border crimes, but insisted that the “Kingdom of Wonders” is completely peaceful and safe. He welcomed tourists to come and explore its rich heritage. During a

  • Kep selected for ‘world-class’ 2.7km beach development

    Kep province has been selected as the first site of a new coastal development initiative, with a “world-class” 2.7km beach planned for the near future. The Kep Provincial Administration met with the National Committee for Coastal Management and Development to discuss the development of the

  • UNESCO formally list Battambang gastronomy

    Battambang, renowned for its cultural heritage, has achieved a significant milestone as the first Cambodian municipality to join the UNESCO Creative Cities Network (UCCN). The UCCN unites nearly 300 cities prioritising creativity and cultural industries in local development plans and international cooperation. On World Cities Day,

  • Angkor causeway symbol of Cambodia-Japan ties

    In a historic moment marking another milestone in the 70-year-long diplomatic relations between Cambodia and Japan, King Norodom Sihamoni celebrated the formal inauguration of a causeway located to the west of the world-renowned Angkor Wat. While presiding over the November 4 ceremony, the King emphasised the

  • Cambodia pivots to solar, wind energy

    Cambodia is planning a move towards solar and wind energy to meet its rising power demands, according to Minister of Mines and Energy Keo Rottanak. On the sidelines of the Singapore International Energy Week event held recently, Rottanak emphasised the urgency of diversifying Cambodia’s