Multichannel Blue Financing in Strengthening the Sustainable Fisheries Industry Value Chain: Lesson Learned from Indonesia
摘要
This chapter aims to examine the urgency of multichannel blue financing (MCBF) in strengthening the sustainable fisheries industry value chain that adheres to the principles of the blue economy. Primary data of 647 blue swimming crab (BSC) fishermen in Indonesia collected as an example of the fishing industry through survey questionnaires were analyzed by using recursive bivariate probit. We also enriched the data by conducting in-depth interviews and focus group discussions (FGDs). The results show that MCBF significantly influences the probability of fishermen engaging with BSC export companies. The limited financial resources accessible to these enterprises are the key factor in their below-average engagement with the BSC export firms in the past periods. MCBF also confirms a clear and advantageous effect on obtaining more efficient and modern environmentally friendly fishing gear and equipment. The stringent quality standards for BSC imposed by importing countries compel fishermen to take advantage of MCBF. This research provides valuable insights for other countries looking to create policies and strategies that support the ethical use of marine resources while ensuring their conservation. By doing so, they may help make the blue economy more sustainable and economically viable.