Huge boost to fishing industry - Solomon Star News

Huge boost to fishing industry

19 August 2017

Dear Editor – Radio New Zealand International (RNZI) on 16 August 2017, reported that the Solomon Islands' tuna fishing industry is to get a boost with a $US10 million dollar loan from the International Finance Corporation, IFC.

Quoting from the RNZI news bulletin it said:

“The loan will go towards a new fishing vessel for the company National Fisheries Developments and maintenance of its fleet in Noro.

“The IFC's Tom Jacobs said the loan would promote sustainable fishing and employment in the Solomons.”What we're trying to do with our investment is to promote livelihoods, sustainable livelihoods, for Solomon Islanders and help contribute to the security and sort of equity in the country," Mr Jacobs said.

"And by doing so really help bring some enhanced standards to the operation of the fisheries sector in the country."

“He said the IFC would also advise the company on environmental and social standards, particularly around women employees.

“In 2013 the IFC provided a similar loan to Solomon Islands' canned tuna exporter SolTuna, one of the largest employers in Solomon Islands.

Its sister company the National Fisheries Developments is a Honiara-based subsidiary of the Tri Marine Group which is involved in fishing, processing, and selling tuna and other seafood products.”

Frank Short
Bangkok, Thailand