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    Home > Food News > Food Articles > The Asian Development Bank provided a US$93 million loan to support Indonesia's shrimp farming industry

    The Asian Development Bank provided a US$93 million loan to support Indonesia's shrimp farming industry

    • Last Update: 2023-02-02
    • Source: Internet
    • Author: User
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    The Asian Development Bank recently approved a US$93 million loan to develop shrimp farming in seven regions of Indonesia to support
    smallholder farmers.
     
    At the request of Indonesia's Ministry of Maritime Affairs and Fisheries, this project is to develop a sustainable shrimp farming industry in the region to improve the productivity, profitability and environmental sustainability
    of smallholder farmers in Bali, Banten, Central Java, East Java, Lampung, Aceh Nangro and South Sulawesi.
     
    Founded in 1966 and headquartered in Manila, the capital of the Philippines, the Asian Development Bank has 67 members (including 31 government members), 48 of which are from the Asia-Pacific region
    .
    With poverty alleviation as its primary objective, the Asian Development Bank is committed to promoting social and economic development
    in Asia and the Pacific.
     
    Eric Quincieu, Chief Water Specialist for Southeast Asia at the Asian Development Bank, said: "Indonesia is a major player in the global shrimp farming industry, ranking among the world's top five shrimp producers with a global supply share of 8.
    7%, with export markets including the European Union, Japan and the United States
    .
     
    "With ADB's assistance, we expect sustainable aquaculture practices in Indonesia to reduce the strain on the ecosystem from shrimp farming while increasing productivity
    .
    " Quincieu said
    .
     
    ADB's projects will improve production conditions for local farms by investing in climate-resilient infrastructure, strengthening value chains, and reducing imports of shrimp, creating more opportunities for smallholder producers to access quality inputs, production and harvest, and product traceability
    .
     
    As a result of the project, about 5,200 smallholder farmers in Indonesia will benefit from infrastructure improvements, and about 35,000 farmers, including about 7,000 women, will benefit from sustainable and climate-resilient quality inputs and capacity building
    .
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