The government is set to provide funds to the fishermen in coastal areas aiming to curb menace of middlemen and boost fish production, officials said.
The department of fisheries (DoF), which is under the ministry of fisheries and livestock (MoFL), has created a seed or revolving fund of Tk 35 million for the purpose initially.
The United States Agency for International Development (USAID) has provided the fund.
"We have created a seed/revolving fund for the fishermen in the coastal belt to boost fish production. It will also help them to get rid of menace of middlemen," director general (DG) of the DoF Syed Arif Azad told the FE.
During the fishing season, fishermen have to take advance loans with tough conditions from the middlemen due to their fund constraints, making them financially insolvent.
Mr Azad, however, said the modalities for financing the fishermen are yet to be finalised.
"We will be able to finalise soon the modalities for providing financial support from the fund to the fishermen in order to boost fish production and save them from the clutches of the middlemen," he said.
He said apart from creating fund, the government has also taken a project titled 'Enhanced Coastal Fisheries' (ECOFISHBD) to boost the country's fisheries and improve livelihood of the people.
WorldFish, USAID and the government have taken the joint efforts to support the country's coastal fishing communities and improve food security through research-led fisheries management initiatives.
The five-year project aims to strengthen the ability of local communities, especially women, to extract maximum benefit from coastal environment using sustainable best practices and to mitigate the adverse affects of climate change.
Through the project, the fast-depleting Hilsa could be preserved. Hilsa stocks have been hit hard by habitat degradation and have suffered from over-fishing.
Besides, the project aims to boost resilience of fishermen who rely on Hilsa for their livelihoods.
Over-fishing, siltation, pollution and changing climate have caused a sharp decline in fish population, threatening the livelihoods of the people dependent on the Hilsa fishery.
Bangladesh has made tremendous progress in developing its natural resources over the past two decades for the benefit of its people.
Hilsa fisheries have played an important role in transformational growth of Bangladesh into a lower middle-income economy.
Hilsa, the national fish of Bangladesh, is an important source of nutrition. It provides jobs to half a million fishermen and supports an additional two million jobs in its value chain.
Hilsa fishery accounts for approximately 1.5 per cent of gross domestic product (GDP) of the country.
But despite these successes, the long-term sustainability remains vulnerable to a variety of internal and external forces.
In fact, Hilsa's economic value across Bangladesh, Burma and India is estimated at US $2 billion.
© 2024 - All Rights with The Financial Express
