IFC and SolTuna Help Solomon Islands Retain More Tuna Revenues and Create Jobs (English)

Small and remote island nations in the Pacific are custodians of the last great ocean fishery, but face huge challenges in economic development and managing the impact of climate change. The Pacific fisheries have been feeding the world's tuna appetite for many decades and have now reached their maximum yield potential, according to experts. While some tuna species are in decline, management efforts are focused on achieving a safe long-term catch limit that will ensure sustainability of the fisheries in the Western and Central Pacific. With IFC financial support, Solomon Islands' only tuna loining and canning facility, SolTuna, will be upgraded and expanded to help the nation benefit more from the income generated by its tuna resources. SolTuna is the first of IFC's investments in Pacific fisheries and its first wildcatch investment in more than fifteen years.