ADB lends RI US$33m to repair coral reefs

ADB lends RI US$33m to repair coral reefs

MANILA: The Asian Development Bank (ADB) is lending US$33 million to Indonesia to rehabilitate and manage its damaged coral reefs, it was announced Saturday.

The project also expects to address the depletion of resources and entrenched poverty in Indonesia's coastal and marine sectors which contributes to the destruction of coral reefs, the ADB said in a statement from its headquarters in the Philippine capital.

Coral reefs in Indonesia have been threatened by such activities as destructive and illegal fishing, sand mining and coral mining. About 80 percent of the population in these areas near the coral reefs live below the poverty line, the ADB remarked.

Additionally, there are legal and institutional constraints to managing the coral reefs, the bank said.

The ADB hopes that by improving the capacity to manage and rehabilitate coral reefs and their ecosystems, the project can also raise income and living standards of residents in the area.

Coral reefs are breeding and spawning grounds for fish and other marine creatures and their destruction has often resulted in sharp drops in the variety and quantity of sea life. --AFP