Fisheries Sector Prosperity Project

The development objective of Fisheries Sector COVID-19 Recovery Project for India is to support the fisheries sector recovery with expanded access to working capital and insurance, improved fisheries value-chains, and enhanced fish product safety. This project has four components. 1) The first component, Facilitating Working Capital Finance and Risk Management for Fisheries Sector Microenterprises, has the following sub-components: (i) Facilitating Access of Fisheries Sector Microenterprises to the GoI Programs for Working Capital Financing; and (ii) Facilitating adoption of Insurance in Fisheries Sector microenterprises focusing on unserved shrimp producer. 2) The second component, Supporting Microenterprises to Improve Efficiencies of Fisheries Sector Value Chains, aims to support fisheries sector microenterprises in protecting their profit margins by enhancing productivity and reducing the inefficiencies and fragmentation. 3) The third component, Adoption and Expansion of Fish Product Quality and Safety Assurance Systems, aims to address current demand in domestic markets for safe fish products by making such products available to consumers, including in smaller cities with low supply of fish products. 4) The fourth component, Project Management, Monitoring and Reporting, aims to support strengthening institutional capacity of the Department of Fisheries (DoF) for Project implementation, through the maintenance of project management units (PMUs) to manage, implement, monitor and evaluate project activities.