Japan First to Donate to WTO Fisheries Funding Mechanism
Japan became the first country to contribute to the World Trade Organization's Fisheries Funding Mechanism to help developing countries implement the fisheries subsidies agreement struck at the 12th Ministerial Conference, the WTO announced. Japan's Kazuyuki Yamazaki presented the $686,000 contribution to WTO Director-General Ngozi Okonjo-Iweala Feb. 8.
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"I am very grateful to Japan for making the first donation to the new Fisheries Fund," Okonjo-Iweala said. "The Fund can now become fully operational, and is ready to staff up and start receiving applications for assistance from members once they have formally joined the Agreement. This donation sends a strong signal that developing and least-developed country members will receive the assistance they need to implement the Agreement on Fisheries Subsidies. Today's donation is yet another meaningful step toward safeguarding global fish stocks and restoring the ocean's health and the livelihoods of millions of people around the world who depend on fishing."
The WTO runs the fund with partner organizations including the U.N.'s Food and Agriculture Organization, the International Fund for Agricultural Development and the World Bank Group.