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Policy briefFinancing small-scale fisheries in Kenya 2023
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No results found.This policy brief presents a snapshot of financial service provision for small-scale fisheries in Kenya. The purpose is to show pathways for financial service providers and other stakeholders to support fisheries on the Kenyan coast. The information presented in this policy brief has been collected by a joint project of the Food and Agriculture Organization of the United Nations (FAO) and the African Rural and Agricultural Credit Association (AFRACA). -
Book (series)Innovations for investment: financing small-scale fisheries in Thailand 2023
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No results found.To make small-scale fisheries in Thailand more sustainable, fishers need to invest in responsible fishing operations and technologies, reduce overfishing, contribute to fisheries management, and implement climate change adaptation measures. Small-scale fishers often do not have access to financial services to innovate and to make the necessary transition to sustainable fishing operations. Access to financial services will help them to innovate and adopt measures that will provide social, economic and environmental returns, the desired triple bottom line. The Asia-Pacific Rural and Agricultural Credit Association (APRACA) and FAO, in collaboration with the Bank for Agriculture and Agricultural Cooperatives (BAAC), implemented a project to analyse and improve the access of small-scale fishers to financial services in Thailand. The project identified the key finance and fisheries sector stakeholders, carried out surveys and interviews and conducted a techno-economic performance analysis of some major fishing fleets, to investigate the potential innovations for investment in small-scale fisheries. APRACA and BAAC drafted training materials and conducted various trainings on financing small-scale fisheries. The project also supported the launch of a national network for stakeholders involved in financing the fishing sector in Thailand (ThaiNet SSF). This circular provides a summary of the project achievements. -
Policy briefFinancing small-scale fisheries in the Philippines
A policy brief
2021Also available in:
No results found.This policy brief summarizes the findings of surveys among financial and insurance providers, fishers and fisherfolk organizations in the Philippines in 2021. It explains why financial services are important for small-scale fishers (SSF) and provides recommendations for improving their access to finance and insurance. SSF make an important contribution to food security and the rural economy. The average income of most SSF is below the poverty line of USD 2 500/year. For economic growth and sustainable fishing operations SSF need access to financial and insurance services. Less than 50 percent of the SSF have access to financial services. Only 30 percent of SSF have a savings account at a bank. Many financial and insurance service providers in the Philippines are willing to provide their services to SSF. However, financial institutions find it hard to supply credit to SSF, because of the seasonality of the fishing business, lack of insurance of fishing vessels, and limited technical knowledge about fisheries within their institutions. Digital finance tools are required to deliver credit more efficiently to SSF. Fisheries organizations and financial institutions have a joint interest to increase financial literacy, and enhance business planning and record keeping skills of SSF.
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