Why Investing in Water-Based Resources Makes Socio-Economic Sense
By Khalifa Hemed
Published May 30, 2019
Policymakers and investors can no longer ignore the ocean-linked economy from which more than 800 million people worldwide derive their livelihood.
As important as it may be, challenges such as marine pollution, rising sea levels and destruction of aquatic ecosystems are seton destroying the blue economy whose global fish production is valued at about US$362 billion and accounts for almost 20 per cent of animal protein for 3.2 billion people.
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International Fund for Agricultural Development (IFAD), the UN agency that focuses on agriculture and people in rural areas, calls for greater investment by governments and development partners in sustainable development for people who depend on small-scale fisheries, aquaculture and coastal environments.
Saying that “Nearly one-third of global fish stocks are already being harvested beyond their sustainable limits,” IFAD
says “issues such as marine pollution, rising sea levels and destruction of aquatic ecosystems must be addressed” in achieving “Sustainable Development Goals (SDGs) and global food security.”
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“Coastal communities, and especially small island developing states, are faced with unique challenges, including extreme climatic and environmental threats,” IFAD, that says it has since 1980 supported more than 100 projects involving rural fishing communities and others who depend on aquatic resources, says.
IFAD says it is currently supporting fisheries and aquaculture-related projects through loans and grants in 14 African countries.
