World Bank: $40 mn Loan for Artisanal Fishing

President Kuczynski signed a loan agreement with the World Bank on Monday for $40 million to finance the national Fishing and Aquaculture Innovation program, PNIPA. The five-year program is designed to strengthen artisanal fishing and small fisheries industries.

Artisanal fishing “has a huge future in Peru,” the President said, but added that it was fundamental to “modernize and formalize non-industrial fishing”  by providing access  to credit, refrigeration at fishing wharves, and setting good quality standards.

The total cost of the program, to be developed between 2017 and 2021, is $120.9 million, of which the Finance Ministry is covering $80.9.  It will finance some 2,000 research, development and innovation projects.   The World Bank loan “will help small operators,” said Kuczynski.

The projects come under three major schemes — fishing innovation, aquaculture innovation, and improvement in governance of both these systems.

Competitive blocks will be developed in the regions with fishing and aquaculture potential, both on the coast  — including Piura, Ancash, Tumbes, and Lima —and in Andean lakes and rivers in Puno, Junin, Arequipa, San Martin and Huancavelica.

The program is expected to directly benefit some 70,000 people and businesses, as well as researchers, scientists and services.

The loan was signed at the Government Palace by the President and by Finance minister Alfredo Thorne, Production minister Bruno Giuffra, and  Alberto Rodriguez, the World Bank’s regional director for Bolivia, Chile, Ecuador, Peru and Venezuela.


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