World bank to invest $1 billion in aquaculture

GLOBAL - The World Bank is to invest 1 billion US dollars in a new fishery and aqua culture initiative tagged "New Global Program on Fisheries (PROFISH)," the bank's Environment Director Warren Evans said here Wednesday.

In a statement issued in the Nigerian capital Abuja, Evans saidthe initiative would be executed in association with key donors and other stakeholders.

Evans, who is attending an ongoing four-day summit of African fisheries in Abuja with participants from 26 African countries andrelated international organizations, said the PROFISH program was aimed at meeting the challenges of growing crisis and would focus on sustainable fisheries management and governance.

Source: Xinhuanet