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The role of finance in mitigating COVID-19 impacts in fisheries














​FAO. 2020. The role of finance in mitigating COVID-19 impacts in fisheries. Rome.



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    The world is standing on the precipice of the greatest food crisis in generations. Worldwide, people and their communities are reeling from the effects of the COVID-19 pandemic, which extend far beyond the direct health impacts. Food systems have been disrupted, informal employment all but stopped for millions, markets have closed and remittances have dried up and the most vulnerable have found themselves struggling to access sufficient food. Increasingly, as smallholders are unable to access the critical inputs they need to continue producing, food availability is emerging as a major concern. Conflict, weather extremes and pre-existing economic turbulence continue to push more people into acute hunger, exacerbated by the reverberations of the pandemic. The worst-case scenario of famine is inching closer to reality for millions of girls, boys, women and men, especially for the 27 million people that were already experiencing emergency levels of acute hunger before the pandemic. Responding to these challenges requires urgent action at scale. Critical agricultural seasons, livestock movements for pasture and water, food harvesting, processing and storage – these are not activities that can be put on hold as we tackle the health impacts of the pandemic. Without support, increasing numbers of people will be forced to abandon their livelihoods and rely on much more costly food assistance to survive. Anticipatory action now is not just more cost effective than waiting to rebuild livelihoods and communities later, it is more humane and respectful of the dignity of the billions of people relying on some form of agriculture for their livelihoods. This is at the heart of FAO’s response to the indirect effects of the COVID-19 pandemic. FAO’s programme focuses on four key components to save lives and livelihoods threatened by the pandemic, as follows: (i) rolling out data collection and analysis; (ii) ensuring availability of and stabilizing access to food for the most acutely food-insecure populations; (iii) ensuring continuity of the critical food supply chain for the most vulnerable populations; and (iv) ensuring food supply chain actors are not at risk of virus transmission.
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    In 2020, the corona virus spread around the globe, and its containment measures resulted in unprecedented socio-economic impacts. ASEAN region’s economy is estimated to experience a decline between 3.5 and 4.7 per cent for 2020. The restrictions to contain the virus spread, although necessary, hit many households income, particularly of the most vulnerable. Yet other disasters have continued to hit the region. Convergence of the impacts of compounded shocks from multiple hazards, can push vulnerable households into deeper or prolonged deprivation and poverty. Social protection is a core part of the efforts to mitigate the impact of COVID-19, facilitate speedy recovery and strengthen the resilience of poor and vulnerable people. Governments have been rolling out social protection at an unprecedented scale in response to COVID-19. Well established social protection systems are an important part of any adequate crisis response. The COVID-19 pandemic is changing rapidly, while having immediate as well as medium- and long-term cumulative impacts on economies. Social protection has shown its relevance and positive impact in the initial phases of the crisis. The next phases, particularly during recovery to build back better, provide an opportunity to expand the role of social protection in a transition toward equitable, green and sustainable economies, while building more risk-informed, shock responsive and resilient social protection systems in ASEAN.
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    This brief identifies some of the areas that governments have intervened through emergency law to strengthen a resilient fisheries and aquaculture food supply chains and illustrates how these regulatory measures can be adopted by other countries thereby contribute to ensuring food security and economic development for all especially the indigenous peoples and women. As such, it contributes to FAO’s Strategic Objectives on the eradication of hunger, food insecurity and malnutrition (SO2).

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