Project Name:

Supervision mission for an IFAD-funded coastal resources and livelihoods project 


International Fund for Agricultural Development (IFAD)  - Project Dates:   July 2016 - July 2016

Detailed narrative description of project:

The Fisheries, Coastal Resources and Livelihood (FishCORAL) Project was approved at IFAD’s Executive Board in September 2015. The total project financing is US$ 43.74 million comprised of: an IFAD loan of EUR 27.31 million (approximately US$ 29.42 million); an IFAD grant of US$ 0.69 million; Government contributions of US$ 6.12 million; and counterpart contributions by Local Government Units (LGUs) of US$ 5.64 million and communities of US$ 1.33 million. The Project became effective on the 26 October 2015, implementation started on 2 January 2016, and the project completion date is 31 December 2020. The goal of the Project is to reduce poverty in the target coastal communities of the 11 target bays in Regions V, VIII and XIII and the Autonomous Region of Muslim Mindanao (ARMM).

Detailed narrative description of actual services provided by Poseidon Aquatic
Resource Management Ltd:

Poseidon staff led a team to review the performance and implementation progress of the Project. The mission’s objectives were to: (i) assess the progress of project implementation in relation to its start-up activities; (ii) identify implementation issues and bottlenecks; and (iii) discuss and agree actions to resolve identified constraints and improve project implementation.