Announcement of World Bank Approves Thirty-Eight Million Dollars for Fishery Project in the Philippines on December 20, 1979

FOR IMM·EDIATE ..-' " RELEASE ~ ~ ', .. World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 80/37 December 20, 1979 WORLD BANK APPROVES $38 MILLION FOR FISHERY PROJECT IN THE PHILIPPINES A project to strengthen fishery technology and the training of small-scale fishermen in the Philippines will be assisted by a $38 mill ion loan from the World Bank. The project, which has a total cost of $70.6 mill ion, will assist in the establishment of a national system of fishery training. Under the project, the University of the Philippines College of Fisheries will be moved from Manila to Miagao in the Visayas. This coastal location wil 1 provide the College with naturai sea laboratories, a harbor, and easy access to other important research institutions. The college's research activities will concentrate on marine fishery and the annual number of • graduates is expected to increase from 140 to 180. Academic and communal facilities, equipment and accommodations at the college, to be named University of the Philippines in the Visayas, College of Fisheries, will be provided by the project. The project will also establish seven Institutes of Fishery Technology at six fishery training institutions and an agricultural college. The Institutes will concentrate on technician training, offering a three- year program leading to a diploma with majors in marine fishery, inland fisher~ and fish preservation and marketing. Each institute is expected to graduate about 110 students per annum by 1985/86. Organized nonformal training of fishermen will be undertaken at R~gional Centers located adjacent to the institutes. Training programs will include technology directly related to fish production as well as subjects which wi 11 al low the fisherme.n to develop some business ski 11. It is expected that a total of 8,400 smal 1-~cale fishermen will be trained annually at the centers. The fishery training project will support the government's Integrated Fisheries Development Plan which aims to make the country self-sufficient in fish by the mid-nineteen eighties while increasing fishery exports. Fish is a staple of the Philippine diet, and constitutes about half of the national intake of protein. • The World Bank loan to the Philippines is for 20 years, including a grace period of 5 years, with an interest rate of 7.95% per annum . NOTE: Money ~igures are expressed in U.S. dollar equivalents. FORM NO. 1121 (5-76) T EC HN I CA L DAT A PROJECT: COUNTRY: TOTAL COST: Fishery Training Phi l i pp i nes $70.6 million • BANK FINANCING: $38 mill ion for 20 years, including 5 years of grace, with an interest rate of 7.95% per year. OTHER FINANCING: Government of the Philippines, $32.6 mill ion IMPLEMENTING ORGANIZATION: Educational Development Projects Implementation Task Force (EDPITAF) 2153 Marvin Plaza, Pasong Tamo, Makati, Razal, Philippines Cable Address: EDPITAF, Manila, Philippines, Telex No. 5446 PROJECT DESCRIPTION: The project will help the government to strengthen fishery technology and human resources through assistance to establish a national system of fishery training. It consists of: a) development of the University of the Philippines in the Visayas, College of Fisheries; and b) establishment of seven regional fishery technidan training institutes and adjacent fishermen training cente. PROCU.REMENT: Con-tracts for civil works, furniture, equipment, and fishing training vessels, ranging from 10 to 40 tons, will be grouped to form bid packages. All major contracts will be awarded on the basis of intern,3. ional competitive bidding in accordance with Bank ~rnidelines. Local bidders for forniture, equipment, and vessels will be allowed a 15~·; .-~ferential margin or the existi1·:g rate of import duties, whichever is the lower, over the c.i.f. price of competing foreign suppliers. Miscellaneous items in contracts not exceeding $25,000, and subject to an aggregate total of $500,000, will be purchased on the basis of a minimum of three price quotations. Books will be procured directly from authorized distributors. • ECONOMIC RATE OF RETURN: n.a. ESTIMATED COMPLETION DATE: 1985 - 0 -