May 13, 2015
Governance of fisheries and aquaculture has been weak around the world, and this has resulted in an excess of capacity in the fishing industry, overfishing‚ and a vast loss of economic returns. Fish products have also become the object of extensive international trade‚ mostly from poor countries to wealthier ones. There is a substantial opportunity to improve livelihoods by capturing the "Sunken Billions"—or the forgone economic benefits of capture fisheries, estimated in the $50 to $100 billion range annually—and increasing the supply from aquaculture systems. Capitalizing on this opportunity can improve food and nutrition security for hundreds of millions of people. It can also increase our ability to adapt to climate change.
Who We Are
The Global Program on Fisheries, known as "PROFISH," was established with key donors and stakeholders to engage the World Bank in improving environmental sustainability, human wellbeing, and economic performance in the world’s fisheries and aquaculture, with a focus on the welfare of the poor in fisheries and fish farming communities in the developing world.
The mission of PROFISH is to promote and facilitate the contribution that fisheries and aquaculture can make to poverty reduction, sustainable economic growth‚ better nutrition and economic opportunities for women.
What We Do
PROFISH seeks to accomplish this mission by:
- Designing and implementing good governance systems through World Bank investments and international partnerships; and
- Providing information‚ knowledge products and expertise to help ensure that fisheries and aquaculture create sustainable wealth and reduce poverty.
Poor governance and environmental degradation of fisheries habitats are primary causes of overexploited‚ unsustainable fisheries and poverty in fishery-dependent communities. Improved governance can result in sustainable improvements in communities, ecosystems, and economies.
Aquaculture is a new and rapidly growing fish supply source‚ offering a range of important economic opportunities. Like any rapidly growing industry‚ aquaculture also faces serious challenges. It has experienced ‘boom and bust’ cycles and environmental problems. However‚ with improved governance‚ thoughtful planning and access to information‚ technology and capital‚ aquaculture can overcome these problems.
Working with Partners
PROFISH is a programming and funding partnership between key fishery and aquaculture sector donors, international financial institutions, developing countries, stakeholder organizations, and international agencies. PROFISH has received financial and in-kind support from the UK, Iceland, France, New Zealand, Norway and Finland (through TFESSD), Japan, USA, FAO and the World Bank. The growing partnership includes regional economic organizations representing developing countries, including the African Union and the ASEAN Secretariat. Other PROFISH partners include FAO, IUCN, WorldFish, IFPRI, OECD, USAID, NOAA/NFMS, NEPAD, Strategic Partnership for Fisheries in Africa, Rare, CI, WWF, EDF, ICFA/ALLFISH, GAA and ISSF. PROFISH played a lead role in coordinating the Blue Ribbon Panel and its report "Indispensable Ocean." The Bank is seeking to expand its Program for Fisheries and Aquatic Resources (PROFISH+) to support innovation and reform in ocean financing, technology and governance.
Key PROFISH Publications
- PROFISH Strategic Vision for Fisheries and Aquaculture (2011)
- PROFISH: Reforming Fisheries and Aquaculture for Global Benefits Evaluation Report (2009)
- Fish to 2030: Prospects for Fisheries and Aquaculture (2013)
- Sunken Billions: The Economics Justification for Fisheries Reform (2009)
- Small-Scale Capture Fisheries – A Global Overview with Emphasis on Developing Countries: A preliminary report of the Big Numbers Project (2008)
- Turning the Tide: Saving Fish and Fishers (2005)
- Trade in Fishing Services: Emerging Perspectives on Foreign Fishing Arrangements (2014) [Read summary]
- Evaluation of New Fishery Performance Indicators (FPIs) (2012)
- The Political Economy of Natural Resource Use: Lessons for Fisheries Reform (2010)
- India Marine Fisheries: Issues, Opportunities and Transitions for Sustainable Development (2010)
- Rising to Depletion? Towards a Dialogue on the State of National Marine Fisheries (2009)
- Reducing Disease Risk in Aquaculture (2014)
- Growing Aquaculture in Sustainable Ecosystems (2013)
- Hidden Harvest: The Global Contribution of Capture Fisheries (2012)
- Changing the Face of the Waters: The Promise and challenge of Sustainable Aquaculture (2007)
- Development Partners Support the Creation of Global Financing Facility to Advance Women’s and Children’s Health
- 73 Countries and Over 1,000 Businesses Speak Out in Support of a Price on Carbon
- World Bank Group to Nearly Double Funding in Ebola Crisis to $400 Million
- International Food Prices Hit Four-Year Low
- Speech by World Bank Group President Jim Yong Kim at Howard University: “Boosting Shared Prosperity”