Sri Lanka made an initial contribution of $100,000 for seed funding, to set up the proposed multi-million dollar Fund, Fisheries Ministry spokesman Narendra Rajapaksa told the Sunday Observer.
This project is sequel to a proposal by President Mahinda Rajapaksa to set up a global aquaculture fund at the FAO, NACA Asia Regional Ministerial Meeting on Aquaculture for Food Security, Nutrition and Economic Development held in Colombo in July 2011, he said.
It was pursued by Fisheries and Aquatic Resources Development Minister Dr Rajitha Senaratne at the 7th FAO Committee of Fisheries (COFI) Aquaculture sessions held in St. Petersburg, Russian Federation from 7 to 11 October 2013.
The Food and Agriculture Organization at the recently concluded 31st Session held in Rome from June 9-13 2014, endorsed the proposal to set up of this fund and named it as "Mahinda Rajapaksa Global Aquaculture Fund". The 31st Session of COFI also endorsed The holding of an Expert Consultation on "Culture Based Fisheries" in Sri Lanka, in March 2015 was endorsed at the 31st session of COFI.