DA secures $16 million grant from KOICA

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MANILA, Philippines — The Department of Agriculture will receive a $16-million grant from the Korea International Cooperation Agency (KOICA) to bankroll two projects aimed at improving domestic aquaculture production and community-based agri-businesses.

Agriculture Secretary Francisco Tiu Laurel Jr. and KOICA country director Jung Youngsun recently signed the records of discussions to facilitate the implementation of two separate grant assistance projects.

The first project, titled Capacity Building on Aquaculture Development for Income Increase of Fisherfolk in Guimaras Province, is a $10-million grant spanning seven years with the main goal of helping local fisherfolk increase their income by enhancing aquaculture production and strengthening the value chain.

Under the project, various aquaculture infrastructure will be established, including a hatchery system and a pilot pond for high-value species.

The project will also involve the transfer of advanced aquaculture technologies through capacity-building programs and develop business operation structures for cooperatives.

Meanwhile, the second project, titled Development of Community-Based Agribusiness to Improve the Livelihood and Income of Marginal Farmers in Central Luzon, will run for six years with a $6-million grant.

The project aims to diversify income sources and strengthen the agricultural activities of marginal farmers in the region through the establishment of an Agribusiness Incubation Center in Zambales and the enhancement of the existing DA Technology Business Incubation facility in Tarlac.