The World Bank is now unwilling to finance $160 million in the country’s fisheries sector under Integrated Fisheries Livinghood Project, Bangladesh (IFLHPB), though it earlier showed interest to invest in the project.

The WB informed Fisheries and Livestock Minister Abdul Latif Biswas about its unwillingness during his visit to WB office in Washington last September.

It, however, showed interest to provide technical assistance to local fisheries sector.

A report sent to the cabinet division on fisheries minister’s visit to USA during 20-30 September reads that Scandinavians country Norway was interested to funding that project, fisheries ministry sources said.

The World Bank’s resident representative in Bangladesh Ellen Goldstein in a recent meeting with the fisheries minister at his office also informed that the WB will not finance the project, said a senior official of fisheries ministry.

The official also said that the name of project will be altered as the World Bank has withdrawn itself from funding the project.

The project has been undertaken to educate local fishermen about implementing the rules of international standard in fishing. Under the project, the government will also carry out a survey on fresh water fisheries resources framework.

The project was taken aiming to diversify country’s fisheries sector and boost exports of local fish and shrimp to earn more foreign currency, as per the project proposal.

According to the project, the government will also develop country’s costal aquaculture and increase Mari culture variety of fishes.

The country’s fish sector earned $ 598.42 million during last fiscal marking a negative growth of over 4.0 per cent compared to that of the previous year. But it fell short of target by over 17 per cent.

Shrimp farming is a key employment sector in the country’s south-western coastal region. Some 1.2 million people are directly involved with the industry while 130 shrimp processing plants and tens of thousands of farms have also created indirect employment of 5 million people.

News: The Daily Sun/Bangladesh/14-Nov-12