Australian government funds aquaculture project in Philippines

The Australian government has funded an aquaculture project in the Mindanao region in the Philippines.

The project aims to increase fisheries production as well as diversify economic options in the area.

Philippine President Gloria Macapagal-Arroyo and Australia's Manila Ambassador Rod Smith led inaugural rites for the Marine Finfish Hatchery in northern Mindanao, Misamis Occidental province.

Smith said Australia funded almost 70 percent of the project which cost an estimated US$170,000.

The rest of the project cost was carried by the provincial government.

The hatchery is expected to contribute largely to livelihood opportunities for the people who rely heavily on the coconut industry for their income.