Philippines: South Korean grant $16-M for aquaculture, agribusiness

The Philippines and South Korea have partnered on a $16-million grant to support two projects aimed at promoting aquaculture development and community-based agribusiness. The first project, with a $10-million allocation, is focused on aquaculture development in Guimaras Province. It will run for seven years and aims to increase fisherfolk income through enhanced aquaculture production, infrastructure development such as hatchery and pilot ponds for high-value species, the transfer of advanced technologies, and the creation of cooperative business structures. The second project, funded with $6 million, targets marginal farmers in Central Luzon by promoting agribusiness opportunities. It includes the establishment of an agribusiness incubation center in Zambales and the improvement of an existing DA facility in Tarlac. Both initiatives will feature training sessions, capacity-building programs, and agricultural interventions to support farmer-beneficiaries. Koica has previously provided $20.78 million in grants to the Philippines for projects involving agri-mechanization, smart agriculture, and dairy herd improvement.

Source: Philippine Daily Inquirer / https://business.inquirer.net/527414/philippines-gets-16-m-south-korean-grant-for-aquaculture-agribusiness