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DBP supports grouper aquaculture project

Shown during the signing ceremony (from left) are: Kauswagan Sang Isla Sibuyan Enterprise Ltd. project engineer Ricky Bacallo; DBP manager Jose Pepito Yusingbo; Angelica Gonzales; Kauswagan Sang Isla Sibuyan Enterprise Ltd. partners Ernesto R. Gonzales and Rev. Fr. Guillermo Ramo; DBP executive vice president Benel D. Lagua, DBP first vice president Daniel M. Gonzales, DBP senior assistant vice president Romeo B. Carandang; DBP account officer Rosanna Mina; and DBP project development officer Raul Rebollos.

The Development Bank of the Philippines (DBP) has granted a P10-million term loan to Kauswagan Sang Isla Sibuyan Enterprise Ltd. to finance the development of a 1.2-hectare modern aquaculture project for the production of quality grouper (lapu-lapu) fingerlings.

To be located in the Municipality of Cajidiocan, Sibuyan Island, Romblon, the project will produce grouper fingerlings using “fixed cages in pond” technology for appropriate management and control.  It is expected to produce 750,000 grouper fingerlings per year, to be sold to grouper growers in the provinces of Quezon, Pangasinan, and Zambales.

As the first modern aquaculture project in Sibuyan Island, the project is expected to spur the development of ancillary industries including ice plant and cold storage, packing, transport, and banking services in the island.  It is also expected to boost the aquaculture industry in the region.