INVEST Co-op project hosts high-level workshop on aquaculture micro-insurance in Indonesia
The Co-operative Development Foundation of Canada hosted a high-level international workshop on June 16th to explore micro-insurance solutions to supporting Indonesia’s aquaculture sector. The event was attended by H.E. Cameron MacKay, Canadian Ambassador to Indonesia, representatives of the Indonesian Ministry of Marine Affairs and Fisheries, private and public sector stakeholders. Over 100 participants attended the event virtually.
CDF Canada Executive Director Benoit Andre delivered a keynote address exploring the opportunities, challenges, as well as the impact of CDF Canada’s work with aquaculture cooperatives in South Sulawesi. The workshop highlighted the importance of strengthening the risk resilience of the aquaculture industry in the country – the second largest producer of fish in the world. More than 80% of Indonesian fishery enterprises are still traditional household enterprises. Aquaculture farmers utilize minimal technology and are extremely vulnerable to external shocks. CDF Canada supports the industry, particularly seaweed producers in South Sulawesi, in improving their productivity, supporting access to markets and finance and implementing sustainable environmental practices. The ongoing INVEST Co-op Indonesia project has benefited approximately 7500 aquaculture farmers in four regions of South Sulawesi to increase their long-term resilience and competitiveness through the cooperative model. INVEST Co-op is made possible through funding from Global Affairs Canada and is implemented in partnership with the Marine Institute.