WB Grants Extra $6.5M for Sustainable Fisheries in Vietnam Coastal Provinces

The World Bank (WB) on March 29 approved an additional grant of $6.5 million for the Coastal Resources for Sustainable Development Project (CRSD) in Vietnam. The credit comes from the Global Environment Facility (GEF), a trust fund managed by the WB to help address six critical environmental areas: biodiversity, climate change, international waters, ozone depletion, land degradation and persistent organic pollutants. The money will be used to finance inter-sectorial 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 Ca Mau, Soc Trang, Khanh Hoa, Phu Yen, Binh Dinh, Ha Tinh, Nghe An and Thanh Hoa provinces to help them prepare and implement co-management plans for coastal fisheries to improve their sustainable management. The original CRSD project, funded with $100 million from International Development Association (IDA) credit, was approved by the WB on May 10, 2012 and has four components aiming to build sustainable fisheries management practices. (Nong Thon Ngay Nay – Countryside Apr 1 p10)