CAP04: Catch2Credit: Turning Catch Data into Financial Power

Small-scale fishers make important contributions to nutrition, food security, and the livelihoods of the local communities but are financially excluded due to the lack of credit history and access to formal banking. Lacking capital, they are unable to invest in better quality fishing gear, boats, and sustainable practices, which diminishes their productivity and capacity to adapt to climate change. Peskas, a WorldFish-developed digital-based fishery monitoring system, records data on fishing effort, catch weight, and market sales. Such data are not currently being applied towards financial inclusion and provide an opening to assess the financial creditworthiness of fishers and to build an alternative credit scoring tool that banks and microfinance institutions can apply to provide loans to small-scale fishers on an as-needed basis. This proposal introduces the Fisher Credit Scoring System, a pilot program that will utilize Peskas data to develop a digital credit score for small-scale fishers, unlocking new financial opportunities for economic growth, sustainable fisheries, and improved livelihoods. Through this innovation, we aim to bridge the digital divide between financial services and fisheries, achieving inclusive blue finance solutions.

 

• To turn an idea into a concrete project
• To explore an innovative idea using marine data
• To test the feasibility of a project or idea

A mobile application that show personal credit score for fishers based on their fishing data

Data analyst, AI specialist, fisheries specialist