Small-scale fish processors play a pivotal role in the fisheries sector across India and Sri Lanka. In particular, women form the backbone of the industry and make significant contributions to coastal livelihoods. However, climate-induced disasters, such as rising sea levels, unpredictable weather patterns, and ecosystem degradation, pose unprecedented challenges in their daily lives. Worsening the scenario, these women face systematic barriers, including insufficient infrastructure, limited financial literacy, and limited or no access to tailor-made financial services. In an attempt to propose a sustainable solution, the ICAR-Central Institute of Fisheries Technology, India, and Sabaragamuwa University of Sri Lanka have launched a project aimed at leveraging climate finance to promote financial inclusion and resilience among women in fisheries. The Project is funded under the BIMREN (BIMSTEC-India Marine Research Network) Twinning Research Grant of the BOBP-IGO.
The Bay of Bengal region is among the most climate-vulnerable areas globally. Though mangroves, wetlands, coral reefs, and coastal ecosystems create a natural barrier against climate-induced disasters, these sensitive ecosystems are under the threat of degradation due to artificial and natural disasters. The stakes are higher for women fish processors who rely on these systems for their livelihoods. Their financial exclusion means they lack the means to invest in climate-resilient technologies or infrastructure.
To address these challenges, the project intends to integrate climate finance, gender-responsive approaches, and community empowerment. It focuses on investigating vulnerabilities, promoting financial inclusion and enhancing market linkages. The existing climate financial services and gaps would be assessed to encourage greater financial inclusion. Establishing women-led fish processor groups and building capacities through workshops in disaster preparedness, financial literacy, and climate resilience is also envisaged. The micro-venture concept would be introduced, enhancing market linkages and facilitating access to local, regional, and ethnic markets.
Through its plan, this project will aid women in becoming more resilient in the face of climate-related challenges and gaining financial stability while building stronger communities. Further, membership in organised financial networks will create opportunities for investing in climate-resilient options with increased access to services such as savings, credit, and insurance while fostering sustainable links with financial and microfinance institutions to support investment and savings. The project aims to be sustainable since it builds on community participation.
The financial management and climate adaptation training programs expect to transfer knowledge on developing emergency funds while saving regularly to prepare for future climate change emergencies. The program intends to partner with NGOs, financial institutions and local governments to deliver sustained support. Regular monitoring and effective knowledge exchange systems benefit other regions to replicate proven solutions through this program. Diversified livelihood opportunities, such as value addition, product diversification, quality assurance, and strengthened market linkages, will ease economic prospects and access to local, regional, and ethnic markets.
A Model for Regional Development
The project, in action, covers two geographical locations, making it a blueprint for addressing global challenges of financial exclusion and climate vulnerability.
The thematic areas such as gender equality, sustainable development and climate resilience are focused through the two-year project. It underscores the importance of innovative financing mechanisms and participatory approaches in fostering resilience in vulnerable communities.
This effort will shine as a beacon of hope and progress for the coastal communities across the Bay of Bengal region in navigating the realities of climate change! The following capture shows the project kickoff meeting and a few field visits hosted by ICAR- Central Institute of Fisheries Technology (ICAR-CIFT), Kochi, India, from January 20 to February 01, 2025, with three members joining from Sabargamuwa University of Sri Lanka and 06 members from ICAR-CIFT.
The project partners from Sabargamuwa University of Sri Lanka and the ICAR-Central Institute of Fisheries Technology, India.
