30 Mar 2011

NZ to help increase Kiribati's fisheries revenue

4:00 pm on 30 March 2011

Kiribati is receiving more money from the New Zealand aid programme to help develop its under-utilised fishing industry.

The aid programme will spend about $23 million US dollars implementing development projects in the next financial year in what is a substantial increase from past years.

One of the projects will support the development of training and infrastructure in fisheries in order to increase employment opportunities and to increase Kiribati's fisheries revenue.

The New Zealand Foreign Minister, Murray McCully, says it's an area that has huge potential.

"The most significant economic asset that the people of Kiribati have got is a very large exclusive economic zone for fishing about 3.55 million square kilometres. At the moment people tend to come and help themselves we're trying to do a number of things to ensure that the economic asset generates a return for the people of Kiribati."

The New Zealand Foreign Minister, Murray McCully.