The World Bank Board of Executive Directors has approved a total of 53.8 million dollars for Ghana’s fisheries sub-sector, a statement issued by the Ministry of Food and Agriculture in Accra on Monday has said. The amount comprises a grant of 3.5 million dollars from the Global Environmental Facility (GEF) and a loan of 50.3 million dollars from the International Development Association (IDA), the soft loan arm of the World Bank, to be used to implement the Fisheries and Aquaculture Project. The amount has five components, with the first component, the Good Governance and Sustainable Management of the Fisheries Sub-Sector, comprising 15.2 million dollars from the IDA and 3.5 million dollars from the GEF. The statement said the component was aimed at building the capacity of the Government and stakeholders to develop and implement policies through a shared approach that would ensure that fish resources were used in a manner that was environmentally sustainable, socially equitable and economically profitable. Its sub-components are to develop the legal and operational policy to enable the implementation of the Ghana Fisheries and Aquaculture Sector Development Plan and strengthen fisheries management. This includes fishing rights and stakeholder-based management and surmising necessary research activities for sustainable exploitation. It is also aimed at aligning fishing capacity and social marketing, communication and transparency. The second component of 10.9 million dollars from the IDA is for the reduction of illegal fishing activities that threatens the sustainable management of the country’s fish resources by strengthening fisheries monitoring control and surveillance system. The third component of 12.1 million dollars from the IDA is to increase the contribution of the fish resources to the national economy. It is aimed at identifying and implementing measures to increase the benefits to Ghana from fish resources, by increasing the share of the value-added captured in the economy. It will comprise value chain development (fresh/frozen product/trade facilitation) and fish product trade and information systems. The fourth component is 8.0 million dollars from the IDA for aquaculture development, which is aimed at setting the framework for increased investment in aquaculture. The statement said it would comprise developing the aquaculture policy and legal framework; improving the genetic quality of tilapia fingerlings and brood stock; catalysing aquaculture development for medium and large scale enterprises; marketing the technical studies; and support for small scale aquaculture development. The fifth component of 4.1 million dollars from the IDA is for project management, monitoring and evaluation and regional coordination. The statement said this was aimed at supporting project implementation and regional coordination to ensure that regular monitoring and evaluation were conducted, and the results fed back into decision-making and project management. Source: GNA/Ghana