The Asian Development Bank has approved a loan of almost 6-million US dollars to Papua New Guinea to help fund a more sustainable fisheries industry.
The loan will directly help 30 thousand coastal households which depend on fisheries for their livelihood.
The Coastal Fisheries Management and Development Project aims to improve the management of the country's valuable coastal fisheries resources, especially in overfished areas.
It will also create earning opportunities for fishermen by providing links to established commercial fishing centers.
The project targets major commercial fish-landing areas and their surrounding communities in the Milne Bay, Morobe, New Ireland and Western provinces.
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Post Courier