February 13, 2023

ADB to provide investment for Australis Holdings' aquaculture project

The Asian Development Bank (ADB) has agreed to provide an equity investment of up to $15 million to Vietnam-based Australis Holdings, Inc. (AHI) for its Climate-Smart Barramundi and Seaweed Aquaculture project.

The lender's Climate Innovation and Development Fund (CIDF) will also provide a grant of up to $3 million to the project, according to a press statement.

The investment aims at supporting Australis in increasing the production of barramundi and seaweed in Vietnam's ocean-based farming systems, promoting climate-resilient production of high-quality protein, ADB said in the statement.

"The project will foster technology transfer of best practices in sustainable aquaculture and improve gender equality standards," it said.

- DealStreetAsia